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Originally Posted by Via Chicago
so why are you saying its Illinois pensions? other states do not have the problem we have and they have plenty of pensioned employees.
its constitutionally locked in for a reason. employees have forgeone higher salaries with the expectation of deferred pay, which is exactly what a pension is.
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Most other states do not have those "protections" in their constitutions. Just tweak retirement ages, change the contributions, eliminate cola's, and you can fix things. Illinois politicians are in the pocket of outdated public employee unions though especially at the drafting of the 1972 constitution. We live in a state where public sector workers have rights that no one else does. It's really awful and the costs are just starting to hit home. We are just starting to see the results of the costs with a shrinking population, which of course makes the situation worse.
Edit:
As a comparison, SSI recipients received a 0% increase in 2016 and it was just announced that they will receive a 0.3% increase in 2017. Illinois pensioners get 3%. Every single year. Inflation has been non existent for the last 5 years or so. We the taxpayers get to fund that increase even though our incomes haven't increased that much each year.
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