By Todd Hatton
Murray, KY – Illinois' skyrocketing pension costs will go up even more than expected next year. The Chicago Tribune reports that retirement system analysts first thought the state would have to budget $422 million more for pensions next year. After more study, the analysts now predict the state will have to spend almost $1 billion more. While state leaders say the new figure is more accurate, that means rising pension costs will likely eat up all of the $1 billion increase in income the state is expecting. After years of state government skimping on pension contributions, the projected shortfall in all of the state's pension funds for public workers is $85 billion.