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Category Archives: Public Pensions
Why I’m Not Taking a Pension
Last week I told you that I have elected to opt out of the General Assembly Retirement System (GARS), and thus will not be eligible for the legislative pension. There are a number of reasons why, and I’d like to … Continue reading
Dance Band on the Titanic
There’s an old saying that bad news comes in threes. It’s certainly true today for Illinois. First comes the news that Illinois’ insurance rates under Obamacare are set to skyrocket by 43%-55% at the end of the year. Nothing about … Continue reading
Illinois Can’t Balance It’s Budget by Taxing Retirement Income
Back in December, the Northwest Herald ran a story about a proposal to make retirement income subject to Illinois income tax. On December 2, Rep. Dave McSweeney sponsored House Resolution 890, which states that: “We state our belief that the … Continue reading
Posted in Public Pensions, Uncategorized
Tagged Dave McSweeney, Illinois Budget, Public Pensions
2 Comments
Choosing Among Bad Options to Fix Our Pension Mess
So now we know that next year the State of Illinois will have to shell out 24% of its state budget just to pay pensions, and we strongly suspect that we’re having smoke blown at us if we believe the … Continue reading
Is the Underfunding of Our Pensions 3 Times More Than Advertised?
We’re being told that our public pension plans are underfunded by $111 billion. That’s bad enough, but what if the underfunding is actually 3 times that amount? Continue reading