Illinois’s debt to its employee retirement funds rose as the pensions were hammered by investment losses, erasing some of the bull-market gains that briefly chipped away at the state’s obligations.
The unfunded pension liability across Illinois’s five retirement systems rose 7.5% to $139.7 billion in the fiscal year that ended in June, based on the market value of their assets, according to a report from the Illinois Commission on Government Forecasting and Accountability on Thursday.
The increase is a shift from 2021, when the state’s debt to the pensions dropped as stock prices were rallying toward record highs. That had ...
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