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Illinois Slays Its Pension Dragon?
Pension Pulse Link to more items from this source
[Opinion]
Dec. 4, 2013
"The unions are going to challenge this in court and they're right, the primary reason behind this colossal pension mess is decades of mismanagement by the state of Illinois which failed to top up public pension plans for years. But fiscal mismanagement is only part of the story, albeit a big part.... [L]ike so many other states, all stakeholders including unions held onto the pension rate of return fantasy, foolishly believing that they will magically consistently earn their 8% bogey on a sustained basis over many years."

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