Illinois may have only one opportunity to get pension reform right, and this proposal is not it. More than likely, this proposal will set back the true fundamental pension reform that is required to protect taxpayers from further tax hikes, give public employees more job flexibility, and put Illinois on a sustainable fiscal path.
In recent weeks, Illinois legislators have considered several major pension reform proposals. Several pieces of legislation were considered by legislators that attempted to take some positive steps towards controlling costs…
The pension system in Illinois is broke, both literally and structurally. According to Bloomberg, while the national median funding ratio for state pension systems is around 71.7 percent (for the…