Monday, November 11, 2013

Isn't it past time for government workers to pay their way?

Government workers welfare,  public pensions --

Mish's Global Economic Trend Analysis: Illinois Teachers Pension Fund is 40% Funded, Drops Deeper Into Hole Despite Investment Return of 12.8%; What's the Solution?: "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."

And those Illinois pensions are still going broke!


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