Illinois Governor Furious After Pension Fund Cuts Returns Forecast, Sticking Taxpayers With “Crippling” Tax Hike

by Tyler Durden
ZeroHedge.com
Aug 27, 2016

Illinois Governor Bruce Rauner was furious on Friday after unsuccessfully waging a last-minute battle to block the Teacher Retirement System pension fund from cutting its long-term return assumption from 7.5% to 7.0%, a move that puts the cash-strapped state government on the hook for up to $500 millions of dollars more in the short term.

The Rest…HERE

This entry was posted on Saturday, August 27th, 2016 at 12:11 pm and is filed under Conspiracy, Corruption, Economics, Government Evil. You can follow any responses to this entry through the RSS 2.0 feed.