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Illinois ponders pension fund moonshot: a $107 billion bond sale

JANUARY 29, 2018 | by Elizabeth Campbell | BLOOMBERG

“Lawmakers in Illinois are so desperate to shore up the state’s massively underfunded retirement system that they’re willing to entertain an eye-popping wager: Borrowing $107 billion and letting it ride in the financial markets. …'We’re in a situation in Illinois where our pension debt is just crushing,' Martwick, a Democrat who chairs the committee, said in a telephone interview. 'When you have the largest pension debt in the world, you probably ought to be thinking big.' …”

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