Illinois pension system has company at the bottom

SPRINGFIELD, Ill. — Illinois no longer has the worst-funded state pension system in the country, but not because of anything done by the legislature or the governor’s administration.

New Jersey dropped to the bottom of the list after its unfunded liability increased last year by nearly $23-billion to $136 billion. Illinois’ pension liability grew by nearly $8 billion last year to $119 billion. Illinois is now third-worst in the nation after New Jersey and Kentucky.