Illinois lawmakers go back to Springfield next week and, tonight, some of them join us to tell you what's on their minds as they return downstate.
Joining us on Chicago Tonight at 7:00 pm are: State Sen. Heather Steans, (D) Chicago; State Rep. Lou Lang, (D) Skokie; State Sen. Matt Murphy, (R) Palatine; and State Rep. Jim Durkin, (R) Countryside. Elizabeth Brackett will moderate their panel about pensions, Medicaid and more.
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Pensions
It's unbelievable that teachers don't pay into their pensions. It's also crazy that as an employer-the school districts themselves don't contribute either. Look at the IMRF model- both employee and employer pay into the system. It's one of the most fiscally sound pension systems in the state. That really just has to change. When talking about pensions- you can't lump them all together--each pension plan has their own idiosyncracies and they need to be looked at.
Laurie, it is not only
Laurie, it is not only unbelievable that teachers don't pay into our pensions. It is flat out wrong. Teachers contribute nearly 9.5% of their yearly salary to fund their retirement system. School districts add in another nearly 0.5%, and the state is supposed to contribute 10%. Teachers and school districts have not missed a single payment. The state on the other hand has not fully funded pensions since 1953.
Regardless of who pays what
Regardless of who pays what the bottom line is the amounts contributed overall cannot support the generous pensions promised to the teachers. Some of the teachers in my district are due pensions of 100K plus which would require about 1.5 to 2 million dollars of reserves to support each one of them. These generous pensions (and lucrative health benefits) have to be reformed into 401K and less generous health benefits just like private business or your going to end up with a society where the retired "have-nots" are living on cat food supporting the pensions and benefits of the public workers AKA the "haves".
Pensions
2/15/12
On last night's Illinois Budget program with Elizabeth Brackett, the topic involved the State's pensions. Please Ms. Brackett, why does WTTW always mention the Civic Federation when talking about the Illinois pensions. How about looking into the "Center for Tax & Budget Accountability" and its Executive Director, Mr. Ralph Martire for comments and ideas? Why not have him on as a panelist when you have someone from the Civic Federation?
Further, when you ask Republican lawmakers about state pensions and they answer you with comments like we need to be like the private sector and have 401(k)'s, why don't you ask them if that means that Illinois public employees would be enrolled in Social Security along with 401(k)'s? Those in the private sector that are enrolled in 401(k)'s are also enrolled in Social Security, which means that employers have to contribute 6.5% into Social Security along with the employees. Will the Republican Lawmakers advocate that the the school districts or the state pay into a Social Security system for public employees? You need to ask them this question, because I am sure they do not.
Joe O
Balancing The Budget
When we are going to balance the BUDGET? Now Governor has increasd Tax to 5%. Its time to stand up & balance budget.
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