HR0776LRB097 14789 JDS 59815 r

1
HOUSE RESOLUTION

 
2    WHEREAS, The Illinois public pension systems are estimated
3to have an unfunded liability of over $80 billion, and the
4State's contribution to those systems is increasing each year;
5and
 
6    WHEREAS, The Pew Center issued a study on state pensions,
7titled "The Trillion Dollar Gap", which reported that Illinois
8has the worst-funded pension systems in the nation; and
 
9    WHEREAS, The current funding schedule that Illinois uses is
10not adequate to meet the funding needs of the pension systems;
11and
 
12    WHEREAS, The longer Illinois waits to fix the problem of
13funding the pension systems, the worse the problem gets;
14therefore, be it
 
15    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
16NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
17the Commission on Government Forecasting and Accountability
18study the impact of time and interest on the underfunding of
19the State Employees' Retirement System of Illinois, the Judges
20Retirement System of Illinois, the General Assembly Retirement
21System, the State Universities Retirement System, and the

 

 

HR0776- 2 -LRB097 14789 JDS 59815 r

1Teachers' Retirement System of the State of Illinois; and be it
2further
 
3    RESOLVED, That the Commission on Government Forecasting
4and Accountability release its report, report to the General
5Assembly and Governor, and publish on its website all findings
6by April 30, 2012.