The SEC blamed the State’s historical failure to fund its pension systems caused the pension to be only 43% funded and the State exposed to an $83 unfunded liability. Former Democratic Governor from 2003 to 2009, Rod Blagojevich, was unable to provide any comment. In March of last year he began serving a 14-year sentence in Federal prison for conviction on unrelated charges for soliciting of bribes while in public office for political appointments including the vacant U.S. Senate seat of President Barack Obama.
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