One thought on “Forbes post, “Public Pensions And Social Trust”

  1. Most people and many Illinois legislators do not care whether teachers and other public employees have “contributed responsibly to their pension funds” or that teachers will receive [little to] no Social Security when they retire. It is troublesome that most people and many legislators do not care whether retired teachers’ and other public employees’ defined-benefit pension plans are a fundamental source of economic stimulus to communities in Illinois and the only retirement income for hundreds of thousands of people.

    Most people and many legislators do not care that the State of Illinois has not consistently paid its full constitutional and obligatory contributions to the public pension systems throughout the decades, that this money was diverted to other operating expenses and special interests’ groups, that the State of Illinois saved billions of dollars by not paying what actuaries have calculated the Teachers’ Retirement System should have received throughout the years, that this theft also enabled the State of Illinois to provide services for its citizenry without raising taxes during that time, and that this money was deferred-earned income for teachers in Illinois.

    It is obvious Illinois legislators do not possess the resolve to take on an inadequate fiscal system that fails to generate enough revenue growth to properly maintain state services and pay state expenditures for health and social services, education, government, transportation, capital outlays, public protection and justice.

    Be that as it may, Illinois legislators should transform the state’s failing revenue system and unfunded pension liability. They should find ways to generate more revenue instead of perpetually attacking public employees’ and retirees’ pensions. They should restructure the unfunded pension liability. The so-called Pension Ramp is flawed! Most importantly, they should defend the Illinois Constitution above all else.

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