The Illinois Legislature has been called back to session this Friday, August 17.  One of the major issues to be addressed is Illinois’ Pension Liability.

While the answer is complex, the situation is:

  • Illinois is over $80 Billion in the hole on its Pension Fund obligations (and its going to be worse with the new accounting rules coming online)
  • Illinois is accruing over $12 Million per day in additional penison liability
  • The additional income taxes collected from the increase passed a couple years ago has gone to pay the pension

On 8/17, please vote to take some – any- action to decrease our Illinois pension obligations.

Thank you in advance for doing the right, but not necessarily the easy, thing.

Tom Galassini