Gov. J.B. Pritzker rules out constitutional change to address Illinois’ $134 billion in unfunded pension liabilities Source: The Center Square
Gov. J.B. Pritzker said Tuesday that a constitutional amendment voters will decide next year will help save the state’s finances. He also dismissed any proposal to reduce the state’s pension costs through a constitutional amendment to remove the state’s pension protection clause.
During a wide-ranging fireside chat at the Economic Club of Chicago Tuesday, Pritzker promoted his constitutional amendment for a progressive income tax. Voters next year will be asked the binding question that Pritzker ushered through the legislature. Pritzker also campaigned on the issue of changing the state’s existing flat income tax to a progressive system that has higher rates for higher earners.
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The IPPFA was founded in 1985 as a not-for-profit organization whose mandate was to educate public pension fund trustees. In 2009 the IPPFA became the primary education provider for public pension fund trustees in the state of Illinois. Our members manage over eighteen billion dollars in pension assets.