You have seen the news Illinois’ pension plans for state workers and teachers are in crisis. Our pension debt is nearly $100 billion and growing. You should care.
State leaders have ignored the issue for too long. Illinois’ credit rating suffers, taxpayers are spending millions of dollars in interest and important social services are being crowded out.
But not every solution is right. We need comprehensive pension reform that will secure pension benefits for public employees and provide real and substantial savings to the state.
Comprehensive Reform will:
- Reduce the unfunded pension liability and the state’s annual pension contributions
- Stabilize pension funds for employees and retirees so they all receive a pension
- Significantly improve the state’s financial position
- Free up state revenues to fund critical public services such as education, human services and public safety
- Help balance the state’s budget
- Achieve 100% funding of the systems in 30 years.
Half measures won’t work. We need real reform, now.