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View Diary: Daily Kos Elections Morning Digest: Special for Ed Markey's seat finally starts heating up (36 comments)

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  •  Well, if the money's not there, it's not there. (0+ / 0-)

    Unlike the Federal Government, Illinois is genuinely limited in what it can do to source extra revenue....and it seems that Quinn has done his damnedest to do so. But frankly, thanks to the profligate spending of the previous two decades which underfunded the Constitutionally-guaranteed pension funds, he's left with little choice but to either go to Washington for the money (not gonna happen without a D House, and probably not then) or start cutting back lots in order to balance the books.

    I hate it, but those are the options. Can the public sector unions be persuaded to make some concessions to avert the disaster?

    "Violence never requires translation, but it often causes deafness." - Bareesh the Hutt.

    by Australian2 on Wed Sep 18, 2013 at 08:34:37 AM PDT

    [ Parent ]

    •  They pay more than most now. (0+ / 0-)

      Inquiring minds want to know about teacher pensions and Quinn's reforms

      Q: Who pays that share now?

      A: You, for the most part. And me. All of us who pay taxes in Illinois. The local districts chip in just a little more than half a percent. The teachers then pay 9.4 percent of their salaries into the pension fund.

      Screen shot 2012-04-27 at 12.07.58 AMQ: That’s a big bite.

      A: It is. And quite a bit larger than the 6.2 percent of income up to $110,100 that most of us kick into Social Security, a system in which our teachers don’t participate. But the payoff can also be big.
      [...]

      That part about teachers not paying into Social Security is important.  My four years spent working for UIUC and paying into SURS don't count for anything, because I didn't reach the five year vesting threshold.

      And I will not let the state off the hook for failing to properly pay matching funds.  Things cost what they cost.  Lying about the cost doesn't help anyone.

      -7.75 -4.67

      "Freedom's just another word for nothing left to lose."

      There are no Christians in foxholes.

      by Odysseus on Wed Sep 18, 2013 at 10:12:20 AM PDT

      [ Parent ]

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