Posts tagged "deficit"

The Solution is Pension Reform. Let's Work Together to Save Our State.

Thumbnail image for 'The Solution is Pension Reform. Let's Work Together to Save Our State.'
Illinois has a major problem on its hands — and, it’s not going away. It’s Illinois’ pension problem. And, it impacts us all. Whether you are a hard-working teacher, employee of the State, a taxpayer or a family trying to make ends meet, everyone in Illinois is affected. Watch here to learn more. How serious... Read more »

It's time to act

You know what’s at stake — now we need to get to work. We’re just weeks away from a potentially historic vote on pension reform legislation that could save our state from financial disaster. I am writing, from one Illinoisan to another, to ask for your help in sending a powerful message to our leaders... Read more »

Chicago's destructive funding of pensions

Chicago – like the state of Illinois — does not fund its employee pensions at their true cost level (as determined by actuaries). If it did, the city would have to provide an additional $700 million or so in funding in 2012. By 2015 the number could grow to about $800 million. Not funding these costs... Read more »
Advertisement:

Consider this before you vote Nov. 2

Illinois Is Broke – and public employee retirement programs are at the root of the problem. Unfunded retiree-related obligations for public employees and retirees in State pension plans now total over $130 Billion – more than $25,000 per Illinois household. The funding requirements for these programs are growing – totaling Billions of dollars each year... Read more »

Public pensions creating millionaires - and we pay for it

Illinois and its public employee pension plans owe $80 Billion in unfunded pension liabilities and another $13 Billion in outstanding pension debt – not to mention another $40 Billion in unfunded retiree health care liability.  Total:  over $130 BILLION.  And growing… With enough years of service, Illinois State workers can retire at age 55 with... Read more »