Actuary Mary Pat Campbell: Some teachers unions, such as in Chicago, are pushing for remote schooling as omicron cases of Covid spread. There is a longer-term danger to teachers’ pensions, as many of these are underfunded and depend on growing tax bases. We’ve seen many of these places lose population due to people simply moving (not just dying). Teachers and their union representatives need to think longer-term — they may minorly reduce a short-term risk of a disease most of them (vaccinated) can deal with, while greatly increase the risk of undermining the future of their pension funds.
If I were a pension entitlement holder, I would have zero worries about collecting my entitlements until I die at 130% of actuarial median predicted mortality age. Florida, Tennessee have better quality healthcare provision than Illinois, and Illinois taxpayers are bound to pay for those entitlements, no matter where provision occurs. It is predictable that Pritzker and Franks and Political Class with Family Bank access will buy up all Illinois real estate liens at pennies on the dollar…with taxpayer loaned, 35-1 leveraged dollars. When these organisms own all Illinois property, including farms, they can decide what is most profitable to… Read more »
The Paraclete
4 years ago
The morons think money grows on trees. Democrats!
No I am the King
4 years ago
Ironic the argument is to forget the kids, but remember their money. The true IL way.
Heyjude
4 years ago
Excellent article. Those who advocate for simply raising taxes should take note. Increased taxes can only be extracted from a tax base that still exists.
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.
If I were a pension entitlement holder, I would have zero worries about collecting my entitlements until I die at 130% of actuarial median predicted mortality age. Florida, Tennessee have better quality healthcare provision than Illinois, and Illinois taxpayers are bound to pay for those entitlements, no matter where provision occurs. It is predictable that Pritzker and Franks and Political Class with Family Bank access will buy up all Illinois real estate liens at pennies on the dollar…with taxpayer loaned, 35-1 leveraged dollars. When these organisms own all Illinois property, including farms, they can decide what is most profitable to… Read more »
The morons think money grows on trees. Democrats!
Ironic the argument is to forget the kids, but remember their money. The true IL way.
Excellent article. Those who advocate for simply raising taxes should take note. Increased taxes can only be extracted from a tax base that still exists.