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Illinois General Assembly Retirement System in real trouble

By Mike "Mish" Shedlock Despite a massive rally in the stock market, Illinois public pension liabilities continue to grow. GARS, the Illinois General Assembly Retirement System, is only 13.52% funded, down from 17% funded in 2013. How long can GARS last? Meanwhile, Illinois has accrued a combined net pension liability of roughly $130 billion on which…

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