4 thoughts on “Forbes post, “The Story Behind Illinois’ Latest Public Pension Liability Boost, And Why It’s So Very Illinois”

  1. The Story Behind Illinois’ Latest Public Pension Liability Boost, And Why It’s So Very Illinois

    This is why 52 years in IL and 25 in the City if Chicago, our family is leaving . This city and state are disgusting bastions of theft from the taxpayers and gouging by the politicians and government pension recipients. They feed at the trough with little concern about the non-government workers and business who carry the load.

  2. “…is exactly the sort of action that is, compounded over and over, the reason why Illinois is in exactly the straits it is in.”

    That’s wrong. It’s these little actuarial tricks that put Illinois in the straits it is in. It hides existing expenses to “free up” money for other things. Some necessary, but mostly not.

    This bill stops the charade. Your assessment of the multiple changes and of Martwick’s hand in them is also wrong.

    The State Constitution protects the benefit level. If you’re a tier one recipient, your benefits must be the same as all other tier one recipients. Once the COLA was enacted it had to apply to everyone in the tier (or those without it would have diminished benefits). So yes, either by legislation or by judgement, the COLA was going to be given. Now we know what the actual deficit is.

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