A proposal by the Center for Tax and Budget Accountability, a Chicago nonprofit advocacy group, suggests that taking 43 years to make the plans fully funded, instead of the normal 30 years, would reduce annual pension payments to a feasible level. Requiring equal annual payments instead of back-loading contributions to later years would make it more fiscally responsible than the state's current plans.
“The only thing they can do that's rational is re-amortizing the debt they owe,” said Ralph Martire, CTBA's executive director. “It works and it's constitutional. The only people who will yell and scream are the actuaries.”