-By Warner Todd Huston
According to the Pew Center on the States, Illinois’ public employee’s pension system is in the worst shape of all states. The Associated Press reported that pensions in Illinois are underfunded and over promised.
Illinois was rated the most troubled pension system during the study period, with a 54 percent funding level and a total liability of more than $54 billion.
Proof once again that public employee unions are antithetical to good government. The reasons these pensions are in such poor shape are twofold. One is that they are far, far too generous (fault: unions) and two is that even when the money does go into these accounts the state legislature raids the funds for general usage (fault: politicians). Both reasons are failures of government.
What this state needs to do first thing is to start a two tiered system. Since the pensions are protected by law, we need to accept that we are saddled with current pensions. But any new employee and all employees not yet vested should have their undeserved benefits massively cut.
The state should also look to offer as many buyouts at lower costs as it can. Early retirements might help the bottom line, too.
But taking care that future benefits are not so undeservedly high is the most important thing here.
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“The only end of writing is to enable the reader better to enjoy life, or better to endure it.”
–Samuel Johnson
Warner Todd Huston is a Chicago based freelance writer, has been writing opinion editorials and social criticism since early 2001 and is featured on many websites such as Andrew Breitbart’s BigGovernment.com, RightWingNews.com, CanadaFreePress.com, StoptheACLU.com, TheRealityCheck.org, RedState.com, Human Events Magazine, AmericanDailyReview.com, and the New Media Journal, among many, many others. Additionally, he has been a frequent guest on talk-radio programs to discuss his opinion editorials and current events and is currently the co-host of “Life, Liberty, and the Pursuit of Conservatism” heard on BlogTalkRadio. Warner is also the editor of the Cook County Page for RedCounty.com.
He has also written for several history magazines and appears in the new book “Americans on Politics, Policy and Pop Culture” which can be purchased on amazon.com. He is also the owner and operator of PubliusForum.com. Feel free to contact him with any comments or questions : EMAIL Warner Todd Huston
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