A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign
“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”
Prairiejane-
Yes, I think you can. It’s generally agreed that one constitutional approach is to leave the existing pensions as they are but set up an alternative for pensioners to opt into. That alternative plan could have the elements I suggest or whatever else the state decides. An option to cash out of one’s interest in the old fund might also be offered. The state would then proceed to properly fund the new plan but starve they old one (though they might not say that expressly). Rational pensioners would then opt out of the old one, thereby replacing it.
you can’t possible set up classes and make cuts that way in light of the constituional prohibition.