Analysis & Reports

The Trillion Dollar Gap

February 18, 2010

The figures detailed in the Pew Charitable Trusts' report, The Trillion Dollar Gap, include pension, health care and other non-pension benefits promised to both current and future retirees in states’ and participating localities’ public sector retirement systems.

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Analysis & Reports

Illinois Public Employee Retirement Systems

Get the facts on the five state-funded retirement systems. Who gets a public pension, and what do they get?

Frequently Asked Questions

Q: Why are some calling for Illinois to switch from a defined benefit to defined contribution system?

A. As of 2011, Illinois faces an unfunded pension liability that exceeds $80 billion, one of the largest in the nation. Calls have been made to switch Illinois from its current defined benefit system to a defined contribution system due to misunderstandings regarding the sources of this large debt and the effects of a system switch.

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Q. What is the average pension for a public employee in Illinois?

A. Based on Census Bureau data, the 2009 national average pension benefit for state and local employees was approximately $23,400 per year, and the Illinois average public pension benefit was approximately $27,400 per year.