The proposal of HB 1185 would extend the repayment date for downstate public safety pension funds from the end of MFY 2040 to MFY 2050 or later. The schedule is significantly shorter than other statewide, state-administered, and Chicago-based pension systems, despite downstate public safety pension funds having better funding ratios.
The only way out is if the Federal Government allows states to Bankrupt.
Otherwise, the only solution is to double taxes every 5 years for the next 50 years.
The overly generous pensions are not sustainable, not a chance in hell.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
The only way out is if the Federal Government allows states to Bankrupt.
Otherwise, the only solution is to double taxes every 5 years for the next 50 years.
The overly generous pensions are not sustainable, not a chance in hell.
Don’t forget about the free health care.