The Pension Crisis as Told by TV's Finest

Get a little confused by all of this pension talk? We've brought some of your favorites from the talking box to help you figure it out!
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Get a little confused by all of this pension talk? We've brought some of your favorites from the talking box to help you figure it out!

2000: Pension funds doing pretty well at 74.7 percent funded, the highest funded ratio the state has seen in 30 years. Oh yeah!

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2004: State takes out a $10 billion loan ($7.3 billion for pensions) to cover its obligations. Interest on the loan ends up contributing to chronic underfunding.

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2005: Lawmakers approve a "partial pension holiday" for Financial Years 2006 and 2007. (Not exactly a holiday anyone was celebrating)

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2008-2010: State is required to make larger contributions to make up for the pension holidays. Ramped-up payments coincide with the Great Recession. State takes out a loan to cover Financial Year 2010 payments Keep the punches comin'

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2012: Gov. Pat Quinn's Office reports state pension debt is $96 billion. No pension reform legislation is approved. De-nile--not just a river in Egypt!

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Get it now?

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