Pension issue isn't just about the teachers
"it's against the law in Illinois to reduce the retirement benefits for any public employee -- a violation of Illinois' Constitution actually. You can't undo that without a Constitutional amendment, which nobody is proposing."
Aren't laws that public employees make for themselves great!
1 comment:
See Steve Malanga in today's WSJ.
BTW, what if we change the constitution? Hand over all the public employee pension fund assets to the vested employees and retirees and wash our hands of any further liability.
On the post-retirement health care thing, just walk away from it - it's not an actual liability anyway. Bodies in the streets? Not hardly - they all get Medicare at 65 anyway. Just no more of this retiring at 54 and immediately start collecting full bennies for life stuff.
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