I live in Illinois (at least for the next two years, then I'm outta here) and can tell you that you really don't have any idea how under-funded the state pensions are. A payment to the State Pension system hasn't been made in well over five years, probably closer to ten than five.
The state is just over $131 BILLION DOLLARS short in the pension system.
There's no way that money will ever be "found." They can tax every Illinois resident at 100% of income and they'll STILL not have anywhere near enough money to fund the system for as far as the eye can see.
Prediction: This state will declare bankruptcy at some point. It'll have to happen because there's no way out of this mess.
It's just a matter of time...
Luckily the state government is still shutdown. But it will cost us in the end somehow.