- Illinois' pension system was in precarious enough shape in 1994 that Democrats and Republicans came together to solve a crisis threatening the state's financial future.
The agreement they forged was supposed to take politics out of pension funding by requiring a steady stream of payments over the next 50 years. The law was billed as an "extraordinary measure" that would finally force the Legislature to fulfill its "constitutional responsibility" to hundreds of thousands of state workers past, present and future.
The promise proved to be an empty one.
The politicians did it? Who would have guessed?
Go read the entire article. It's a long piece but it explains a lot of what went on the last seventeen years.
Go read the entire article. It's a long piece but it explains a lot of what went on the last seventeen years.