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Ted appeared on the Illinois Channel to talk about the pension asset consolidation bill that just passed the General Assembly.

In concept, asset consolidation is a good idea. It will help Illinois’ hundreds of police and fire pension funds make bigger and better investments and do so more affordably.

But Gov. Pritzker calling the idea “momentous” is a huge overreach. The consolidation only effects downstate and suburban public safety pensions, which are responsible for less than 5 percent of Illinois’ overall retirement shortfall.

And the legislation went from good to bad when lawmakers added unrelated benefit changes into the law. They stuffed piecemeal changes to Tier 2 into the consolidation bill and voted to pass it without any public analysis and little debate.

 

Read more about the consolidation bill:

 

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Poor Taxpayer

A U-Haul will solve the problem. Call a mover today and start a better life for you and your family. Illinois is DOA, no hope. Even the cops, firemen and teachers with the HUGE PENSIONS are running out of Illinois.
Last man standing will be a dead man. 83 Degrees and Sunny in South Florida, NO state income taxes. Freeze you a$$ of in poverty or start a great new life.

Wise Willy

Illinois is aptly named; the state is ill and there is only noise.

christie cobb

The road to hell is paved with good intentions

Hank Scorpio

I always enjoy these discussions with Illinois Channel — no over-the-top emotional rhetoric or specious political propaganda, just straight talk.