Dissecting Illinois’ Pension Problem Part III: Understanding Tiers

The following is a continuation of Dissecting Illinois’ Public Pension Problem Part II: Modeling Pensions. Overview Public employees are separated into two tiers, depending on when they began employment, and each tier contains a different vesting structure for their pension. The two tiers are simply referred to as Tier I and Tier II. Tier I EmployeesContinue reading “Dissecting Illinois’ Pension Problem Part III: Understanding Tiers”