Teachers’ Retirement System to ask for $350 million more in next state budget – INN

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world with end
7 years ago

1. Ives: “You cannot tax people enough to pay these pensions. So there will be a day of reckoning.” Ugh. I’ve been hearing about this day of reckoning for years. We all know it’ll happen, but when — in 1-2 years or in 10-20? 2. union guy: “While some criticize the pensions as being too costly, … the benefits aren’t overly generous because teachers aren’t getting Social Security benefits.” a. Is he comparing these pensions to SS benefits? SS benefits pale by comparison, especially considering the three percent raise compounded annually for pensions. Also, the average retiree might start at… Read more »

P M
7 years ago

Why no legalie prostitution too, then we could regulate the politicians.

nixit
7 years ago

There goes JB’s marijuana revenue. Bet he never thought one of his few revenue generators would be swallowed up entirely by one pension system.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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