How to save your retirement funds from the pension crisis
I’m going to explain exactly how to save for retirement in Illinois.
That’s because this state is already on the hook for $9 billion in pension payments, which is about $6,600 per person.
Illinois’s pension fund is also the largest in the country, with $10.2 trillion in assets.
That means that a big part of our pension fund’s $9.5 billion is held by the state’s citizens, which means we’ll be paying taxes on a large chunk of it.
That leaves us with a big problem: Our pension system is in the red, and it’s only going to get worse.
Let’s talk about why that’s the case.
First, Illinois is the only state in the nation that is insolvent.
It has $8.6 trillion in unfunded liabilities, which includes $3.3 trillion in pension obligations.
Illinois has been in a financial crisis for several years, and Illinois has never been able to pay all of its obligations.
In 2018, Illinois declared bankruptcy, and the state has had to restructure some $4 trillion in debt.
The state is also struggling to pay its creditors, which have been piling up in the form of state and local taxes, property taxes, and sales taxes.
But the biggest issue with Illinois’ financial crisis is that it’s been fueled by the pension system’s inability to pay for all of the new costs that are being added to the system every year.
Illinois’ unfunding liabilities have risen to nearly $20 trillion, which puts the state on pace to spend about $11,000 per person on its pension system each year.
But Illinois’ pension system isn’t a new problem.
For decades, state governments have been paying higher taxes to fund pensions, and when those taxes hit the state, the pension funds would have to take a hit.
That was how the system was designed to work.
But with Illinois’s insolvency looming, the state is trying to get out of the mess that has been built into its pension obligations over the last few decades.
That has left the state saddled with a huge amount of unfundable debt, which has created a huge financial problem for the state.
The Illinois State Retirement System and Retirement System of Illinois were created to provide a retirement system for the people of Illinois, and they’re doing just that.
As the governor of Illinois explained at a press conference announcing the creation of the retirement system, it’s not a new idea.
The system has been around for decades, but this is the first time that it has been designed to address the huge financial challenges facing Illinois’ retirees.
This system is called a pension system because it provides a pension to the state for the life of the pension.
The pension fund then pays for future benefits.
Illinois is also a state that has the lowest employee-retirement ratio in the United States.
When you look at all of these factors, it makes it really difficult for the pension systems to provide the retirement funds that we need.
The pensions are the primary funding source for the retirement systems, and so when they’re not funded properly, there’s not enough money in the retirement fund to cover the cost of the pensions.
When that happens, that means that when the state needs money for retirement, it has to raise taxes to pay those taxes, which leads to a financial problem.
But what does the pension fund actually do?
It pays a very low rate of return on its investments.
In fact, according to the actuarial firm Moody’s Analytics, the total return on Illinois’ investments is actually lower than what they paid in taxes in 2018.
That makes it very difficult for state governments to provide retiree benefits, and that’s why the Illinois State Pension Fund is in a position to be insolvent over the next decade.
In Illinois, the only retirement system that is profitable is the Illinois Public Employees Retirement System.
The problem with that is that the Illinois Pension Fund does not have a high dividend yield.
When the Illinois pension system pays taxes to the government, the government receives money for that in the pension plan.
That money is then invested in bonds that are guaranteed by the government.
But when the bond market is in free fall, the interest rate on those bonds has been declining.
That is a huge problem for governments that are struggling to meet their pension obligations, because bond yields are one of the only things that can keep them afloat.
So why is the pension market so weak?
Well, it is because of the fact that we’ve never had a fully-funded system of pension investments.
That started in the 1960s when lawmakers passed the state constitution, which gave the state the authority to set a pension formula.
That formula is a formula that determines the level of taxes that will be paid by each taxpayer.
The formula was set by the Illinois Board of Investment.
In 1963, the board passed a law that defined a pension fund as a pension plan that pays all of your pension obligations and invests those