Moody's estimates the shortfall in Illinois' five state-run pension funds will jump to $261 billion in 2020. The rating agency, in "Medians – Pension and OPEB liabilities fell in fiscal 2019 ahead of jump in 2020," says a drop in interest rates and lower investment returns will worsen Illinois' shortfall. Moody's estimation for all 50 states makes Illinois' $261 billion shortfall the worst in the country. Illinois' shortfalls will be even larger when Moody's finally releases its 2021 estimates, which will capture the impact of COVID-19 on the interest rate and financial markets. Wirepoints estimated earlier this year that Illinois' unfunded liability may reach $300 billion under today's volatile conditions.