A new report shows Illinois’ unfunded pension debt liability remained highest in the nation despite the 2017 income tax hike.
Despite passing a record income tax hike in 2017, Illinois’ pension health remains the nation’s worst, according to one of the world’s leading credit rating agencies.
A new report from Moody’s Investors Service shows in fiscal year 2018, Illinois’ unfunded pension liability stood at nearly $241 billion, leaving each Illinoisan on the hook for $18,896 in pension debt.
These findings follow Illinois Policy Institute research, which has found Illinois’ pension debt has continued to balloon since 2011 after an income tax hike that year and another in 2017.
