Illinois Review –
By Brian Costin –
Illinois has 43 percent of the nation’s public pension plans, according to a 2012 study published by the Commission on Government Forecasting and Accountability, or COGFA, conducted by Marquette Associates on local police and fire pensions in Illinois.
According to publicly available data, there are 1,511 public pension plans in the United States. With 657 public pension plans, Illinois has the largest number of public pension funds in the country. The next largest is Pennsylvania with 137. These figures are a reflection of the local level structure in Illinois. There are 14 states that have adopted segregated statewide police and fire plans, combined statewide police and fire plans, or defined contribution/rollup plans.
This latest pension revelation isn’t surprising, given that Illinois has 1,800 more units of local government than the next closest state of Texas, with half the population.