U of I researchers suggest 'crisis' mentality doesn't help create sustainable pension solutions

Thursday, February 21, 2019

U of I researchers suggest 'crisis' mentality doesn't help create sustainable pension solutions

Few will argue that Illinois has significant issues with the underfunding of its five public employee pension systems. In fact, many say the state faces a continuing “pension crisis.”

However, three University of Illinois researchers argue that this “crisis” framework or mentality surrounding the issue actually impedes a sustainable solution. Their new report urges policymakers to rethink the conversation about pensions and Illinois’ finances. 

“Illinois lawmakers have long sought a silver bullet solution that will not increase (or even lower) the state’s required contributions while simultaneously shoring up pension systems’ finances,” write researchers Robert Bruno, Amanda Kass and David Merriman. “We view such a policy as unattainable and its pursuit a distraction from the job of responsible policymaking.” Download the report