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| | HR0776 | | LRB097 14789 JDS 59815 r |
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| 1 | | HOUSE RESOLUTION
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| 2 | | WHEREAS, The Illinois public pension systems are estimated |
| 3 | | to have an unfunded liability of over $80 billion, and the |
| 4 | | State's contribution to those systems is increasing each year; |
| 5 | | and
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| 6 | | WHEREAS, The Pew Center issued a study on state pensions, |
| 7 | | titled "The Trillion Dollar Gap", which reported that Illinois |
| 8 | | has the worst-funded pension systems in the nation; and
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| 9 | | WHEREAS, The current funding schedule that Illinois uses is |
| 10 | | not adequate to meet the funding needs of the pension systems; |
| 11 | | and
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| 12 | | WHEREAS, The longer Illinois waits to fix the problem of |
| 13 | | funding the pension systems, the worse the problem gets; |
| 14 | | therefore, be it
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| 15 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE |
| 16 | | NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that |
| 17 | | the Commission on Government Forecasting and Accountability |
| 18 | | study the impact of time and interest on the underfunding of |
| 19 | | the State Employees' Retirement System of Illinois, the Judges |
| 20 | | Retirement System of Illinois, the General Assembly Retirement |
| 21 | | System, the State Universities Retirement System, and the |