Chicago considers competing plans to save city pension system – Illinois News Network

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Rick
7 years ago

Wow these employees only paid 8.5 percent contribution and they expected their plan to survive? A private sector 401k employee sees each quarter, with the retirement projection tools every plan provides, that a 15 percent or more contribution is needed over many years. “Mistakes” like this need to fall legally and hard on the actuaries that put both the taxpayers and the workers and the politicians for that matter in such jeopardy. They are to blame, the math is too clear and predictable by inference and evidence that this was to be the outcome. Yet it was hidden. Any actuarial… Read more »

J.A. Herzrent
7 years ago

Why not save the city? Shall we start with a teachers’ strike?

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