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Could this be death of one or more of directional schools
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randyfensfanclub1 Offline
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Post: #81
RE: Could this be death of one or more of directional schools
(04-02-2020 11:09 AM)HuskieJ Wrote:  
(03-30-2020 04:56 PM)uiniu57 Wrote:  
(03-30-2020 10:36 AM)HuskieJ Wrote:  That's not true either. I agree that they paid in the amount required, but the math to obligate the taxpayers to that contract was totally flawed. It really does not matter that they "borrowed" from a plan. No matter how much they put in it will eventually be required that nearly 100% of tax revenue go to cover pensions and not regular expenses. No one is blaming the people taking the money, but it has to be pointed out that it is not sustainable. All new state employees should have been moved to 401k style plans 10 years ago, but the public sector unions do not want to release the strangle hold they have on Illinois. Illinois Supreme court is going way beyond what the law states right now to not allow new employees into this death spiral system. I will be here unfortunately for 2 more years. Wish I could leave tomorrow, because nobody wants to treat this seriously enough. Also it used to be that state employees were had lower pay to offset benefits like the pensions. Now state and federal employees have higher pay scales than the private sector and they get the benefits. Does not seem that fair to me.

Sorry but there are a few flaws in your post. No. 1, the money was in there and being added to in sufficient amounts to sustain things until it was all borrowed and never repaid. No. 2, the unions negotiated that deal because state employees had lower pay and therefore earned the pension benefits in place of the higher pay scales in the private sector. Aside from those at the very top, the average state and federal employee still does not make more than its equivalent in the private sector. It's the private sector's insane bonuses and golden parachutes for the very top which led to the handful of the highest level of state and federal being overpaid. Those few --- the supposed 100K pensions you previously talked about --- are the ones always pointed to as creating the unsustainability, not the vast majority of state workers which include professors, staff administrators, janitors, etc. The original contract never obligated the taxpayers, it obligated the union employees to accept the benefits in exchange. It DID NOT become a "death spiral" until so the money was drained and never replaced.

Stick your head in the sand and believe what you want. Even if all the funds were not touched, it is nowhere near the amount needed to cover the pension debt. The math never worked. Believe what you want, but the truth is plain that is was not sustainable from the start. The 3% auto increase makes it that way right off the top, then add in the promotions given just before retirement, and the people drawing multiple pensions. I do not blame the people getting the money. I blame the people in charge of this and the citizens of Illinois that will not do anything about it.

Numbers never worked because manufacturing left country, inner cities became a burden and weren't producing enough revenue and other states lured businesses and individuals with all their cheap labor and incentives. As much as people want to complain about Illinonis, in areas where there is middle class and higher have more intangibles (ie: better roads, healthcare, education, etc.) than many other places. Believe me, I have seen enough of this country to see areas that look nice but I wouldn't want to live their. You are seeing it with the pandemic reaction. If you want to live in the middle of nowhere there are some nice places. But there are tradeoffs. And some of these hot spots of growth have already become pricey and some eventually will in time feel the same thing.
04-07-2020 09:44 AM
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RE: Could this be death of one or more of directional schools - randyfensfanclub1 - 04-07-2020 09:44 AM



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