The American heroes at Planet Money have dedicated an episode to our hopelessly dysfunctional home state as the poster child for state pension plans that are also hopeless and dysfunctional. You should give it a listen:
For extra laughs, listen to Pat Quinn at the 4:37 mark, attempting to blame this issue on those who have gone before him. That’s certainly a true statement, but it’s comical coming from Quinn, who has served off and on in Illinois state and municipal government for THIRTY YEARS. He was even the Illinois State Treasurer from 1991-1995. Clearly, we’re in great hands here.