Aug 24

Illinois Warns Of “Crippling Tax Hikes”, “Devastating Impact” If Largest Pension Fund Admits Reality:

Action this week by Illinois’ biggest public pension fund to lower its expected rate of return, could “cripple” the state’s already fragile finances, Governor Rauner has warned. “If the (TRS) board were to approve a lower assumed rate of return taxpayers will be automatically and immediately on the hook for potentially hundreds of millions of dollars in higher taxes or reduced services… the unforeseen and unknown automatic cost increases would have a devastating impact.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Leave a Reply