February 24, 2005

Blago wants to burst IL teacher's pension "bubble"

Carl Nyberg of Blogging Blagovevich's Blunders (say that three times fast) has an illuminating post about a legislative proposal in Blago's latest budget to limit a little known tactic used to inflate teacher's pensions. Teachers often get a huge pay raise just before they retire, boosting their pensions. This cost is then paid out for many years after. Blago hopes to shift the burden for this from the state to the local school systems.

1 Comments:

At 2/27/2005 9:43 PM, Anonymous Black Oak Arkansas said...

The public employee pensions are draining the state and city coffers. As the IL General Assembly keeps hiking the firefighters pension, the costs are piled onto cities. Firefighters, God bless them, will be able to retire at age 29 if the current trend keeps up.

At some point, our state and local governments are going to be broken thanks to paying pensions for those who have retired -- in other words, retirees will be getting more money than current employees.

God bless the unions, but they have gone way too far in all of this. Enough!

 

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