East Central Reporter

Illinois lawmakers have varying opinions on the shortfall for state run pension plans.

A Wirepoints report found that Chicago and Cook counties' pensions and retiree health shortfall were $122 billion, while state pension obligation bonds were $9 billion.

"I think the first thing people have to admit is we have a mess and we need to start working toward a solution" Illinois state Rep. Chris Miller told the East Central Reporter. "As a start, we need to start electing reformed-minded individuals that are interested in fixing the problem not just pretending like we don’t (have one). This whole pension ramp has been unsustainable from the beginning, and we've got people gaming the system for more pensions on the backs of the taxpayers."

Miller has some ideas on ways to address the problem.

"You’ve got to send other people to Springfield," Miller told the East Central Reporter. "The people that have been in charge of this are not going to be the people that fix it. The people that have been presiding over the destruction of Illinois have to fired in the interest of the hard-working people of Illinois."

Miller also discussed system-wide contributions to the problem.

"I think the way to fix it is these people become part of the same system as everyone that works for a living," Miller said. "They contribute to their retirement fund and move forward like everyone else."

Wirepoints also found that state retiree health insurance shortfalls hit $55 billion, leaving Illinois taxpayers on the hook for a total of $530 billion in debt. On average, the debt obligation is currently $155,000 per household the state. 

That average debt per household is up $20,000 from 2019, according to the report. Illinois also has the worst credit rating in the United States.