Here’s a shocker: The most immediate state pension crises aren’t in New York or California. They’re in Middle America.Illinois is just 8 years away from exhausting its pension fund and creating a yearly $14 billion hole, according to data from Kellogg professor Joshua Rauh [PDF].
That’s a projected 32 per cent of the state’s revenue going to fill a pension hole. Every year.
Indiana, Louisiana, Oklahoma and Colorado are among the next pension funds to fall. The rest of the union is just around the corner.