Directory of Illinois Public Pension Systems & Pension Funds
Author : Illinois Economic and Fiscal Commission
Publisher :
Page : 9 pages
File Size : 33,90 MB
Release : 1992
Category : Illinois
ISBN :
Author : Illinois Economic and Fiscal Commission
Publisher :
Page : 9 pages
File Size : 33,90 MB
Release : 1992
Category : Illinois
ISBN :
Author :
Publisher :
Page : 56 pages
File Size : 31,88 MB
Release : 2010
Category : Illinois
ISBN :
Author : Illinois Commission on Government Forecasting and Accountability
Publisher :
Page : 27 pages
File Size : 36,74 MB
Release : 2003
Category : Illinois
ISBN :
Author : Washington Research Publications
Publisher :
Page : 71 pages
File Size : 12,94 MB
Release : 1969
Category : Pension trusts
ISBN :
Author : Illinois Economic and Fiscal Commission
Publisher :
Page : 40 pages
File Size : 30,95 MB
Release : 1995
Category : Illinois
ISBN :
Author : Illinois. Pension Laws Commission
Publisher :
Page : 346 pages
File Size : 45,4 MB
Release : 1917
Category : Civil service
ISBN :
Author : Illinois Study Commission on Public Pension Investment Policies
Publisher :
Page : 94 pages
File Size : 30,3 MB
Release : 1982
Category : Civil service
ISBN :
Author : Illinois Commission on Government Forecasting and Accountability
Publisher :
Page : 0 pages
File Size : 31,67 MB
Release : 2021
Category : Civil service
ISBN :
Author : Illinois Public Employees Pension Laws Commission
Publisher :
Page : 252 pages
File Size : 16,96 MB
Release : 1979
Category : Civil service
ISBN :
Author : Robert Pozen
Publisher :
Page : 0 pages
File Size : 25,85 MB
Release : 2012
Category :
ISBN :
This case describes the precarious fiscal situation of the Illinois public pension system in the spring of 2009 and the accounting of pension plans by nonfederal municipalities more generally. In February 2009, in the midst of a recession, recently appointed Governor Quinn had to lay out his budget for the coming fiscal year and tackle the state's underfunded public pension, its largest liability. Immediately, the governor needed to raise funds to make the state's annual contribution to the pension plan, and at the same time he needed to come up with a plan for pension reform to prevent the future insolvency of the state. Governor Quinn had a number of levers he could employ, including changing the asset allocation of the pension funds; directly tackling entitlements through a defined benefit or defined contribution plan; or implementing a package of pension bonds, taxes, and employee contributions. Through this case, students should more fully understand pension accounting and the hard choices that many states will face because of their outstanding pension liabilities. Learning Objective: To educate students about the serious problems facing public pension funds and the financial-political challenges of solving these problems.