Breaking News Bar
posted: 12/23/2013 5:00 AM

Pension vote only a 'first step'

Success - Article sent! close

I commend the members of the Illinois General Assembly for their recent efforts to begin to fix our state's pension liability. That said, we still have a long way to go to get our fiscal house in order and restore the confidence manufacturers need to expand and/or locate in the Land of Lincoln.

According to the Illinois Policy Institute, the official unfunded pension liability is $100 billion. The bill that passed and was signed by the governor would -- at best -- reduce the unfunded liability to $80 billion. It only scratches the surface and dials back the crisis to 2011 levels.

Order Reprint Print Article
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

It's universally accepted that this legislation does not represent a solution to Illinois' pension crisis. Several legislators who voted for the bill have said as much, and have defended their vote by saying, "This is not a solution; it is a first step." A "first step" necessarily means there is a second step.

My colleagues in the manufacturing sector will be watching closely to see if there is a second step. Will Illinois find its fiscal footing or will we continue to stumble?

Brian P. McGuire

Park Ridge


Technology & Manufacturing Association of Illinois

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.