Retirement-related programs for Illinois' public employees have more than $140 BILLION in unfunded obligations and debt, which are growing every year.
The three retiree health care plans for state workers, downstate teachers and community college workers account for $44 BILLION of those unfunded obligations.
100% PREMIUM SUBSIDY
Government workers who participate in the State Employees Group Insurance Program (SEGIP) and retire with 20 years of service receive a 100% premium subsidy from the state. How does that compare to your retirement benefit? In the private sector, less than 10% of retirees receive a full premium subsidy.
A REASONABLE SOLUTION
Government retirees should contribute to the cost of their health care the way the rest of us do. In addition, the state should eliminate the current premium subsidy for dependents of retirees. Combined, these reforms would save the state an estimated $250 Million per year.
TAKE A STAND
Visit IllinoisIsBroke.com and support HB149 and SB105 to solve this crisis once and for all.