Haves and Have Nots in Illinois Pensions – WirePoints Original

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Mark Glennon
11 years ago

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.

prairiejane
11 years ago

you can’t possible set up classes and make cuts that way in light of the constituional prohibition.

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