The list of ways in which Illinois shortchanges its people, while simultaneously spending massive sums on pensions that it refuses to reform, seems to grow every day. Published by Jane the Actuary View all posts by Jane the Actuary
3 thoughts on “Forbes post, “The High Cost Of Rejecting Public Pension Reform In Illinois””
I’m in a “begetting” mood this morning. Humans beget corruption. Corruption begets audacious lies. Audacious Lies beget promises broken. Promises broken beget failed services. Failed services beget cries for more money. Cries for more money beget sham income tax reform. Sham income tax reform begets excuses for Speaker Madigan. And so on…
I am a retired Illinois Firefighter and always believed that my pension was safe as long as the city was solvent. My pension fund was safely in the hands and control of my local pension board. The money in the fund is out of the reach of politicians that run the highest taxed state in Union. Recently I heard some noise about combining our FF pension funds for the purpose of improving returns or some such nonsense. I have always realized that the fund was underfunded but our pensioners took comfort in the fact that our city and our board was doing the right thing (unlike the typical Illinois politician) and keeping our pensions safe. I don’t have my finger on the pulse anymore and have lived in Florida for the last 18 years. I only hope that even though our Governors serve two terms (one in Prison) that I will spend my final years collecting my pension without a problem.