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Comptroller Will Skip Pension Payments

The state of Illinois may be skipping out on an upcoming payment or two, all blamed on the lack of a state budget. But this payment, $560 million was intended to go to the worst funded pension system in the nation.

On Wednesday Comptroller Leslie Munger says that November and December’s payment maybe skipped. She simply says that state is short on cash.

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Munger says the bills keep coming in but there is less money to pay them.

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The state has been making the payments along with 14 court ordered and consent decrees to other obligations along with sending cash to bond holders. In total the state owes $3.4 billion on bond payments and $6.7 billion for the pension funds.

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