(06-22-2017 09:37 PM)acolbert Wrote:  I am a retired state employee (SURS) and the lie being told by my fellow pensioners is that we "paid" into our retirement and are entitled to every last dime of it.
Here's the truth, and I doubt if my case if much different than anyone else.
The amount of money I contributed to my retirement is miniscule compared to the large sums I receive. Out of curiosity, I contacted SURS and specifically asked how far would the money go that I put in.
The answer - about a year and a half. The rest of the my pension is being funded by the taxpayers of Illinois. Don't forget about the 3% COLA every year, also funded by the taxpayers and the fact our pension is not considered state-taxable income.
Count me in as someone within the system that believes concessions need to be made on our part for the sake of financial integrity in Illinois.

Well they already have. Tier2 starts with employees hired after 2011 they have lower benefits. And, they have drastically altered the formulas since 2009. So have private companies stopped giving raises too? Regular grunts at NIU havent had one in about 5 years. People are retiring to get raises.