Illinois' finances aren't just decaying at the top, they're falling apart everywhere. The state's one-size-fits-all pension laws and overly generous benefits have left many cities suffocating under impossible pension debts as their populations shrink, tax burdens jump and resident incomes stagnate.
Without an amendment to the Illinois Constitution's pension protection clause – and subsequent pension reforms – expect many cities to head toward insolvency.
The map below shows just how wide and deep the crisis is. Of the 630 downstate police and fire pension funds that reported data to the Illinois Department of Insurance in 2017, 57 percent had funded ratios lower than 60 percent. And nearly 100 funds had funded ratios below 40 percent.