Estimates that a pension buyout program for members of the State Employees Retirement System would save the state $400 million touted by former Gov. Bruce Rauner’s administration were based on an actuarial review of an entirely different plan, according to an analysis by the Civic Federation.

The pension buyout plan approved as part of the budget for the 2019 fiscal year has so far only saved the state $20 million, as first reported by The Daily Line.

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