ASSETS

$214 Billion

BILLS

75% of Illinoiss retirement debt is not clearly disclosed

on its balance sheet.

ILLINOISS BILLS EXCEED ITS ASSETS

$184 BillionNEEDED TO

WHAT IS ILLINOIS HIDING?

PAY BILLS

Once these hidden debts are counted, Illinoiss balance sheet doesnt look so great. In fact, the state is sinking in debt. One of the reasons Illinois is in this precarious financial position is state officials use antiquated accounting rules to report Illinoiss financial condition.

Truth in Accountings detailed analysis discovered a total of $158 billion of retirement benefits are owed, but not funded. Because of the confusing way the state does its accounting, only $40 billion of these liabilities are reported on Illinoiss balance sheet. If this debt is included, Illinois has a $184 billion shortfall, which effectively represents compensation and other costs that have been pushed into the future.

$30 Billion

AVAILABLE

$118 Billion

in

Hidden Debt

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