Underfunding

PENSION: Illinois Governor Faces Legal Battle Over Pension System Underfunding

Springfield, Illinois – With the General Assembly’s spring session well underway, Governor J.B. Pritzker’s administration is honing in on a proposal to tackle Illinois’ ongoing pension funding challenges. The state’s pension system has long struggled with underfunding, prompting concerns about the financial stability of retirement plans for public school teachers, university employees, and state workers. Pritzker recently emphasized the potential hurdles facing efforts to fully fund the state’s pension system, citing a legal battle over …

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Underfunding Crisis of $175 Trillion Threatens Medicare and Social Security Solvency

Washington, D.C. – Medicare and Social Security are confronted with a looming financial crisis as a recent report from the U.S. Treasury Department reveals a significant underfunding of $175 trillion. This staggering deficit poses a threat to the sustainability of these crucial programs for the current generation of American children unless substantial changes are swiftly implemented. According to the report, if current trends persist, Medicare and Social Security may face challenges in meeting their full …

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