Illinois House Rejects Speaker's Pension Reform Proposals
Not a good way to start
Even modest changes are going to be a challenge, let alone shifting to a defined contribution plan
Just say "aloha" to those terrible return numbers
Even as funds lose money, leaders call for decisions based on politics, not success
Two out of five plans lost money. None reached as high as 1 percent on returns.
Maybe they can use the additional sales tax revenue from weddings to fix the state's pension crisis
Former cops collect hefty lifetime pensions thanks to bogus disability claims.
Trying to hit those optimistic return guarantees
Which explains pension problems, Social Security, Medicare, government debt ...
Pension spiking bounces back and unions look for any excuse for an exemption
Everything's fine, as long as you completely ignore the public pension crisis that is bankrupting us all!
The state's government continues to play games
The state faces $40B in unfunded debt from pensions
At least somebody is doing well
Huge gap in number between older workers and younger
Employees required to contribute 3 percent into own retirement fund
Whines about "political timidity" while failing to organize a solid solution
Leading from behind. Far, far behind. Like from behind Indiana.
Governor continues to vaguely ask for somebody to do something or other
But measure to shift responsibility for educators' retirement funds from state to school districts abandoned
If state is willing to guarantee it will actually make its payments
It turns out they're big investors in resold mortgages
Collecting a salary and a pension is a wee bit lucrative
Gov. Christie's changes have slowed but not stopped growth of state's pension commitments
States offering the highest salaries aren't getting the best returns
Solutions a far cry from dealing with issues of sustainability
Politicians dither while problem continues to grow
Says it was due to self-imposed deadline, not union opposition
Former Los Angeles Mayor Richard Riordan has dropped his quest, on which he spent a reported $500,000, to gather signatures for a ballot initiative that would have replaced defined-benefit pensions for city employees with 401(k)-style defined-contribution plans.
Videos! Social Media! People like that stuff, right?
Was trying to get effort invalidated