Monday, August 27, 2012

Illinois unions' offer - a "nonstarter"

Why, eventually, all public pensions will be abolished--

Illinois unions offer to pay more toward pension, but there's a catch - Chicago Tribune: "The union group's plan was a nonstarter for Gov. Pat Quinn, who is pushing for a more comprehensive pension overhaul. A Quinn spokeswoman dismissed the suggestions as "nothing new," adding that the proposal "would not solve the state's pension challenges, nor is it feasible." Union officials say the proposal is a "fair alternative" to the plan that House lawmakers could vote on Friday when they return to the Capitol. That measure, which already passed the Senate, would require lawmakers and other state employees to take lower cost-of-living increases if they want to keep their state health insurance and have salary increases totaled into their final pension earnings. Union representatives say the higher cost-of-living adjustments are needed to offset inflation. With an election looming Nov. 6, others dismissed the union's move as an attempt to derail any vote for pension reform."


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