Pension System: Illinois Takes a Major Step Towards a More Secure Future

Illinois Pension System Sees Progress

Pension Plan on Track for Success

According to WashingTonExaminer, Illinois Comptroller Susana Mendoza is feeling good about the state’s pension system. She thinks it’s getting better. Last year, the system added $2.5 billion to its debt. But Mendoza did something smart to help. She paid some pension money early, which will make more money grow.

This early payment is part of a bigger plan to get Illinois‘ pension system on track. Governor J.B. Pritzker wants to add three more years to the plan, so the state can be like other states that have fully funded their pensions. The current plan was made in 1994, and it says Illinois should reach 90% funding by 2045.

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Pension System: Illinois Takes a Major Step Towards a More Secure Future (PHOTO: GOOGLE)

Illinois Comptroller Seeks Innovation for Taxpayers

Mendoza is happy that the law changed to let her pay pension money early. She wants to find new ways to help Illinois taxpayers. She knows that just paying bills isn’t enough. Her office is always looking for new ideas to make things better for Illinois. By paying pension money early and making other changes, Mendoza thinks Illinois is moving in the right direction.

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