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posted: 2/13/2014 5:00 AM

Pension stories not in line with facts

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Pension stories not in line with facts

The Daily Herald's latest articles (by Griffin and others) on so-called "pension reform" in Illinois reflect your very poor attention to the facts.

To begin with, the IMRF is not a state pension program. Instead it is a very financially solid, carefully implemented, retirement system established by municipalities for their hardworking, dedicated, employees and promised to these professionals when they were hired. This commitment includes a modest adjustment, agreed to by the municipalities many years ago in lieu of any COL increases. These well-deserved annual increases are neither "bumps nor spikes" by any comparison and rarely cover the annual cost of living index. Your "Watchdog" occasionally does some good work, but this time he is just chasing a bare bone.

Yes, several state pension programs need reform in my opinion, but not the IMRF. Accordingly, before you publish any more absurd articles, I suggest you contact the IMRF office in Oak Brook for the facts and follow your founder H.C. Paddock's pledge to "? Tell the Truth and?"

Allen Panek


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