Review: Pension bill savings were overstated

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Last month’s agreement on a state pension reform bill won’t save Illinois as much money as its supporters promised.

Accountants at the pension systems took another look at the numbers and concluded that Governor Quinn and state legislative leaders overstated the savings by $15 billion, or about 10 percent.

Critics say state officials will have to revisit the pension cuts and make new ones; but supporters say the new pension rules are already saving the state money.

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3 comments

  • Tired of the wa$te

    Really? How can that be? They wouldn't lie to us would they? Worst group of politicians outside of the whole bunch in DC are right here in the Land of Lincoln!!! I have three college grads (2 with Masters Degrees) that'll be paying off loans for years and years. No government handouts for any of them. Yet their interest rates are sky high. They can't get jobs at a decent salary, let alone in their field of study. And these fookin politicians are so crooked and use our hard earned $$ for their own benefit.

  • Diane

    "Pension bill savings were overstated" reads the thread.

    Unlike the fact that the Census Bureau has "overstated" the unemployment numbers for the past five years. Or Obama has"overstated "his jobs creation program. Or Economists have overstated the housing market . Or Harry Reid "overstated" the benies and costs of Obamacare. or Environmentalists have "overstated" the cost of green energy. … or the Grammy's have "overstated "the art of female karaoke singers. ..etc