Pension crisis to worsen
SPRINGFIELD, Ill. (AP) — Illinois' budget crisis is expected to worsen after lawmakers failed to enact pension reform last week, and residents will feel the impact across Illinois.
The state's annual pension fund payment is expected to increase by about $1 billion, to nearly $7 billion, in the next fiscal year. That's more than 16 percent of the state's general funds budget, up from 6 percent in 2008.
As the state pays more for pensions, there's less money for schools, police and Medicaid.
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