Illinois’ Financial State of the State

The Institute for Truth in Accounting has reissued Illinois’ Financial State of the State based on amounts reported in the Pew Center on the State’s study “The Trillion Dollar Gap:  Underfunded State Retirement Systems And The Roads To Reform”.  The revised numbers indicate that Illinois’ unfunded promises for state employees’ health care benefits now exceed $39.9 billion.  As of June 30, 2007 this amount was calculated to be $23.9 billion.  We have yet to determine why this liability went up by $16 billion in one year.

Click here to review our new Illinois’ Financial State of the State, which indicates the state is more than $98 billion in the hole.