Posts tagged "retirement"

Illinois' Governor Quinn Unveils Pension Reform Proposal

Last week, Governor Pat Quinn offered the outlines of a pension reform proposal that is an important first step in addressing Illinois’ massively underfunded public pension system. The plan calls for a 3% hike in employee contributions, phasing in an increase in the retirement age to 67, reducing cost of living adjustments, and shifting some... Read more »

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

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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 »

We Support Our Teachers - You Should Too!

We Support Our Teachers - You Should Too!
Last week, we released a video to inform suburban and downstate teachers in Illinois that their pensions are at risk. As you know, there are two sides to every story, and we felt it was important that teachers hear some of the facts that their leaders and others are not telling them. As you can... Read more »
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A Message to Teachers: the Truth about your Pension

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Illinois is Broke – $140 BILLION in debt – and if you’re a teacher its bad news for you. It’s basic math. There is not enough money to pay benefits to current retirees, much less you. That money being deducted from your pay check each month is going to pay benefits to current retirees. So... Read more »

Speak Up Now Before It Is Too Late!

Springfield is poised to vote today or tomorrow on a proposal to raise state income taxes 75 percent.   But this tax increase would not reduce the $140 Billion in unfunded obligations for pension and retiree health care by a nickel. Legislators also plan to continue borrowing to pay for this largely unfunded program.  ... Read more »

Tell legislators: No tax increase without pension reform!

Some scary things are happening in Springfield. The governor is considering borrowing $15 billion. Lawmakers are talking about borrowing $3.7 billion for pensions.  And everyone is talking about increasing the personal income tax from 3 to 5 percent. Responsible legislators in both parties should just say “no” to the tax-increase and bond proposals.  They should... Read more »
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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 »