Local officials look to Illinois statehouse for pension relief – Center Square | Wirepoints

2023-02-03 00:42:49 By : Ms. Emily Zhang

Sign me up for the WirePoints newsletter.

Sign me up for the WirePoints newsletter. PVC Coated Cyclone Fences

Local officials look to Illinois statehouse for pension relief – Center Square | Wirepoints

State retirees get nearly 40% more than what working Illinoisans earn – Illinois Policy

It’s a house of cards,totallyunsustainable. My company dumped my pension on the PBGC, I get 14% of what I was expecting. With SS and a minuscule annuity, I get by OK by not spending money like a Democrat. Just use your brain, it’s not that hard.

Start by going after all the pension fraud tricks — double and triple dippers — working your last day at a job with 5 times your normal salary, to inflate your pension check

‘Budget’ Director getting clear of coming sh#t storm? Probably smart.

Is Lightweight that stupid that she thinks the fat man can make 1+1=4? As long as 1+1=2 these immorally, obscenely generous pensions are un-payable

Get out while the getting is good. Hundreds of thousands already have and the number is growing fast. Punta Gorda, Florida is where all the Chitty of Chicago Cops go.

I like to sit on my front porch in Punta Gorda, Florida and have an empty popcorn box on my lap. As the little boys go by I ask them if they want some popcorn and just reach in to get some. I love that!

The pension time bomb is going off right now. It will destroy Illinois and its communities for sure. Huge generous pensions are unaffordable for any state. The only hope is bankruptcy for the state. The only real choice for a poor honest working family is to leave, vote with your feet and start over somewhere else. The Greedy Government worker has eaten the state, it is DOA.

You really need a SHRINK BUDDY states cant declare bankruptcy youre constant bashing of working people is truly sickening the politicians pass the laws not the working man would love to know what you do for a living I`m sure it really helps Civilization

“McCarty said if the unfunded pension liabilities continue to grow, local governments may need to reduce services for taxpayers. “We would have to take from things that fund police or public works and fire. We have to take from that area, and that’s a big concern that we are going to be sacrificing potentially or cannibalizing city services just to make our required pension payments,” McCarty said.” That’s what happens when you run up debt. It can be real inconvenient when you need to pay your debt and you can’t spend money on other services. It’s like those kids that take out…  Read more »

The pain is coming PPF. Wait until the investments of your pension get marked to market and the funding ratio plummet. There is little appetite by pol’s to raise taxes and the low hanging fruit on the fee tree has already been picked. A nice hard Fed induced recession will be the final straw. Enjoy your sunny days now because storms are in the forecast.

I’m not worried. The state will just pay pensions and debt first. When there is not enough money for the other services, tax increases will be inevitable. Plenty more taxes to be implemented.

Increase flat income tax Implement progressive tax Tax services Tax retirement income. Maybe a state wide real estate transfer tax. I’m thinking 9% with a 7% credit if you purchase another home in Illinois within the year. One last tax for anyone leaving.

The pain is coming alright. I’ll be waiting.

I am not worried about it either, I am going to leave and let PPF eat its own young.

PPF is exactly correct. People think that public employee unions are influential in Springfield because they donate lots of money to the Democrats who are perfectly happy buying votes from others with money that should have funded pensions. While that’s true, it’s not the real reason. Public Employee Unions are influential in Illinois because Illinois is in debt to them by an amount equal to three or four or five entire annual state budgets. Illinois Public Employee Unions are the landlord in Illinois, and the rest of us are just tenants who are about $200 billion behind in our rent.…  Read more »

Goodgulf, the public employees are the landlords in Illinois, but the politicians are their tenants, not the taxpayers. It is the politicians who are subject to eviction. The politicians have been paying the rent to their landlords every single year, and they use taxpayer money to do it.

Taxing retirement income would be my first option while drastically cutting state spending. But I’ll bet ya that someone would sue that taxing retirement benefits is a reduction in benefits and the state supreme court would agree and throw out the tax increase.

Your email address will not be published. Required fields are marked *

Sign me up for the WirePoints newsletter.

Your email address will not be published. Required fields are marked *

Sign me up for the WirePoints newsletter.

Your email address will not be published. Required fields are marked *

Sign me up for the WirePoints newsletter.

Your email address will not be published. Required fields are marked *

Sign me up for the WirePoints newsletter.

Your email address will not be published. Required fields are marked *

Sign me up for the WirePoints newsletter.

Local officials look to Illinois statehouse for pension relief – Center Square | Wirepoints

Garden Wire Mesh SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER