Illinois lawmakers call for analysis of Rauner pension plan

CAT Tracks Editor's Note:

To quote from the article:

...but the lawmakers say the plan presents "real questions."

Now there's an understatement!

Doing as Rauner suggests...

...creating a new retirement system for the new hires...

...would immediately end the revenue source funding the existing retirement system...

...which would then go broke, leaving existing retirees high and dry...

...while also screwing new hires with reduced benefits.

But...

...since it was the Democrats and Quinn who passed the last pension "reform" law (that is now awaiting a constitutional/unconstitutional ruling from the IL Supreme Court)...

...be afraid, be very afraid!

Bears repeating...

...retirees kept their part of THE CONTRACT, it was the State of Illinois that reneged by not making payments, using that money for anything and everything else.

So...

The Illinois General Assembly needs to step up and solve the problem while keeping their CONTRACTUAL OBLIGATIONS to retirees.