Illinois' pension payment schedule is being impacted by the state's budget stalemate, Comptroller Leslie Munger said Wednesday.
As a result of the state's cash crunch caused by the budget impasse, November's monthly pension payment of $560 million will be postponed, Munger said. Benefit checks sent to retirees will not be impacted by the payment delay, she said.
"This decision came down to choosing the least of a number of bad options, and it saddens me that we've reached this point. But the fact is that our state simply does not have the revenue to meet its obligations," the comptroller said. "We will use every available dollar in the higher-revenue months this spring to catch up with our commitments and ensure that our retirement systems are paid in full."
There's a possibility the state's December pension payment could also be postponed, Munger said.
Republican Gov. Bruce Rauner and Democratic legislative leaders have yet to agree on a budget for the 2016 fiscal year, which began on July 1.