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Recent Comments

chebby79 - Lovelace back in court Monday - Quincy, IL News - QuincyJournal.com
he had 8 yrs to save up. he's got no money. if I killed my wife, the mother of my children, instead of divorcing her, I'd be so upset with myself as time went on that I wouldn't be able to hold down a job/ make any money. I wonder if he knew his wife's death was being investigated again. and the poor kids.........what a legacy they are left with.
WarCry - Lovelace back in court Monday - Quincy, IL News - QuincyJournal.com
I think the counter-argument is that it's been 8 years of him presumably being arrogant enough to think he got away with murder, figuring he's smarter than everyone else and would never get caught. Now that he has been arrested, that would change his way of thinking. "Ties to the community" appears to be a garment he wraps around himself to disguise what he is accused of being. You're…
migraine_in_qcy - Strawman: #Hashtag You\'re It... - Quincy, IL News - QuincyJournal.com
Right.... compared to Biden?
migraine_in_qcy - Lovelace back in court Monday - Quincy, IL News - QuincyJournal.com
Hasn't hurt anyone? Isn't he being tried for murder?
QuincyGuy - Sheffield steps down at QND basketball coach - Quincy, IL News - QuincyJournal.com
Look at his record to see what he can do. He hasn't had a winning record or close to it ever. A great assistant but not the person to continue with the QND tradition. Being a Alumni doesn't make you a good coach. Bender was a great coach. Connell is a great coach. Douglas was a great coach. Were they Alumni?

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Report: 5 state pension funds owed $100.5B

1 year ago sj-r.com

Debt would have been lower if computation method hadn't been changed

From sj-r.com:
Illinois’ pension debt has officially topped $100 billion, according to a new report issued Wednesday.
And in a bit of irony, the debt would have been lower if lawmakers hadn’t decided in 2009 to change the way it’s computed — in order to lessen the effects of stock market losses.
The report from Auditor General William Holland’s office shows the unfunded liability of the five state-funded pension systems was $100.5 billion as of June 30, the end of the state’s fiscal year. That’s an increase of $5.9 billion from the previous year.
However, that’s the deficit as computed using a process called “asset smoothing” in which investment gains or losses are spread over a five-year period. That approach was adopted by the General Assembly in 2009 at a time when the recession was devastating investment income for the systems. The first time the smoothing system was used, it resulted in the pension deficit being $15 billion lower than it would have been otherwise.
In the latest report, the pension deficit would have increased only about $668 million, to $97.5 billion, had the smoothing method not been used. That’s a reflection of the significant gains in the stock market in the past year.
“The smoothing is intended to even out the extremes,” said Rep. Elaine Nekritz of Northbrook, the House Democrats’ point person on pensions.
Although some may be tempted to have the state return to the old system, Nekritz said that would be a mistake.
“To really be successful at that, we would have to be anticipating the market and I don’t think that’s a task we should be pursuing,” Nekritz said. “Asset smoothing is used by a fair number of pension systems around the country, so it’s not like Illinois is unusual in adopting that method.”
The numbers reflect the pension debt before lawmakers approved a pension reform plan.

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