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Pritzker aims to fully fund Illinois pensions by 2048, adjusting benefits and redirecting surpluses, as funding remains at 47.8% with $143.5B in liabilities.
Governor JB Pritzker is pushing to fully fund Illinois’ pension systems by 2048, exceeding the legal 90% target by 2045.
His plan includes adjusting benefit calculations to match Social Security, redirecting tax refund surpluses and bond repayment savings to pensions, and extending a pension buyout program.
Despite a House committee vote on a related Tier 2 reform bill, no comprehensive legislation has passed.
As of November 2025, pension systems are 47.8% funded, with an unfunded liability of $143.5 billion—its first decline in four years.
GOP gubernatorial candidates are criticizing Pritzker’s fiscal approach, citing rising state spending and taxes.
Pritzker tiene como objetivo financiar completamente las pensiones de Illinois para 2048, ajustando los beneficios y redireccionando los excedentes, ya que la financiación se mantiene en el 47.8% con $ 143.5B en pasivos.