By Sheila Weinberg, Truth in Accounting Executive Director.

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4 years ago

The new CTU contract wii make the pension hole even bigger. That is common in Illinois. Money which could go to fund pensions is used for salary and current benefit hikes. Then the unions, employees, and retirees complain the employer is not making its full pension contribution. Doubling down, legislative pension benefit hikes to underfunded pensions happened repeatedly after the pension sentence was added to the Illinois state constitution on December 15, 1970. That practice is then minimized by Eric Madiar, by not starting his pension analysis in 1970, thereby reducing thecompounding effect of benefit hikes. If protecting pensions was… Read more »