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They are the people who put it in there in the first place. People who say it's all taxpayer funded are missing the point. They are right in the sense that the employees were paid out of tax dollars during their entire 30 year career, but that money was spent years ago.
A common refrain sounded by public sector unions is that government workers have consistently “paid their share” into Illinois’ pension systems and the state has not. However, the facts tell a different story. While government worker contributions to Illinois’ five pension systems have increased by 75 percent since 1998, taxpayer contributions have increased by 427 percent over the same period. In 2012 alone, Illinois taxpayers contributed $3.5 billion more to the pension systems than state workers did.
originally posted by: schuyler
Like I said, Illinois is corrupt. The pensions work exactly as I explained them above. I worked for 30 years in one and I know how it works. Don't look at Illinois and jump to the conclusion that all pension funds work like the newspaper article you cited. In Washington State, for example, the taxpayers are not out ONE DIME because of the pension funds.
I'm picking on Illinois again
Illinois has a very generous pension plan, helped in part because of strong unions and a corrupt government to begin with.
They are the people who put it in there in the first place. People who say it's all taxpayer funded are missing the point.
Too often, a crisis isn't really a crisis until it hits your neighborhood. Until then, it's just somebody else's problem.
originally posted by: toysforadults
Don't accept a pension for lower pay. Take the higher pay and invest it
You will get more out of it anyway
originally posted by: TexasTruth
I am 18 years into my career as a fireman. I took a $20,000 paycut to join the fire department knowing it was more secure and I could promote up and be at my previous pay in 5-6 years. I did just that and have been a civil servant for 18 years seeing horrible things, staying up all night, worked fires until I dropped.
They have reduced my pension twice so far and are working at round 3 right now. All I ask is to be fair and honest as I’ve done. But they are lying scum that run large city’s. They misappropriated funds, pay media for hit pieces, pet projects in the millions for their buddies, and froth at the mouth wanting their hands in that pension fund with billions in it. Yes! Billions, because it is 10s of 1000’s of employees putting large sums of our checks in it.
I’ll do my best for the citizens, but “they may go to hell”. (As in that old saying)