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Illinois Rated as Second Worst State to Retire

January 16, 2012 J

It should come as no surprise, but Illinois has been rated the #2 on the list of worst states to retire by TopRetirements.com

2. Illinois. Illinois (along with Nevada) faces serious economic troubles. Its pension funding, deficit spending, unemployment, and foreclosure rates are among the worst of any states. The state began to address its problems last year when it raised income tax rates. Although Illinois does not tax most pension or social security, other earnings and investment income are taxed at a fairly high rate thanks to its 5% flat tax rate.

Sadly, Illinois actually tied for #1, but the site decided to choose CT as the winner… or the loser.

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