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Administration January 26, 2012
Ill. Higher Ed. Spending Will Go to Pensions
January 26, 2012 (PLANSPONSOR.com) – The 12% increase Illinois received in higher education spending this year will be used to reduce the state's pension deficit.
Reported by Tara Cantore
The additional funding for FY 2012 will go into the State Universities Retirement System (SURs), The Rock River Times reports.
According to the news report, SURS is facing an unfunded liability of $17.2 billion, according to its 2011 annual report.
Illinois has a total stated unfunded pension liability of $85 billion.