Opinion

Why should we pay public sector losses?

Posted May 09, 2009 11:00 pm

I was incensed after reading the front page article in the April 27 Daily Herald that we taxpayers will see an increase in our property taxes to cover the losses the IMRP (Illinois Municipal Retirement Fund) suffered due to investment losses. Why am I and other taxpayers in this state responsible to cover 100 percent of their losses? It is way past time to change this entitlement mentality of state and local workers who believe we taxpayers owe them well into their retirement years. There is no one, I REPEAT NO ONE, who is stepping up to bail out the losses that my family and millions of other taxpayers (working in the private sector) have suffered from the economic meltdown. So why should we be responsible to restore 100 percent of the losses of this fund which can still cover 70 cents on the dollar of obligations? That is way better than what I can expect at this time and for decades into the future.

Fellow taxpayers, I ask that you join me in e-mailing, calling and writing to your representatives to change the amendments that require you and I to provide more generous benefits to local and state workers than you and I will ever receive in the private sector.

Cindy Bandur

Island Lake

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