Chicago Public Schools teachers hired before 2017 only pay 2 percent of the required employee contribution for their pensions. The other 7 percent is picked up by the district, costing $135 million in 2025. And they gave those newer “Tier 2” employees a 7 percent pay increase to offset the lost pickup benefit, which an estimate shows is costing taxpayers $68 million in the current fiscal year.
Last edited 1 year ago by Leaving Soon, just not soon enough
Daskoterzar
1 year ago
The stupidity here is unreal. We as Illinois residents are in-fact chumps. This is the ultimate in graft and grifting. Not only is the pension program bent always toward the teachers and financially unsustainable, but now, not only do we pay for that, but also we pay for the “required contribution” the employee should have paid. WTF?
Close it. Fire them all. Declare bankruptcy. Leave it closed. No one will notice.
Sounds fair to me, how about to you?
The stupidity here is unreal. We as Illinois residents are in-fact chumps. This is the ultimate in graft and grifting. Not only is the pension program bent always toward the teachers and financially unsustainable, but now, not only do we pay for that, but also we pay for the “required contribution” the employee should have paid. WTF?
Close it. Fire them all. Declare bankruptcy. Leave it closed. No one will notice.