Fewer Illinois State Workers Retiring This Fiscal Year
The State Employee Retirement Systems says about 3,100 employees will have retired in fiscal year 2012. That's compared with 4,700 employees who took pensions the previous fiscal year. SERS Executive Director Tim Blair tells Lee Enterprises Springfield bureau that the number has "definitely fallen off." He says in a typical year about 2,200 employees retire.
The retirements come as state lawmakers try to solve the state's $97 billion pension crisis. But Blair says there could be another explanation for the high number of retirements. He says members of the baby boom generation are aging and retiring. Blair says the retirements could be "demographic."
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