Stop the borrowing against our children

Our legislators have failed us again. Instead of representing constituents, they continue to offer powerful special interest groups extraordinary retirement benefits. The new police and fire pension benefits are exponentially better than anything our children will ever achieve. In fact, these promises ensure our children will work longer and contribute more of their savings to pay for these promises.

Most workers rely on Social Security checks that top out at $30,000, and full benefits may be delayed until 70. The rest comes from personal savings. Despite this, Illinois legislators approved $85,000 pensions payable at 55.

Firefighters and police have dangerous jobs, but so do truck drivers and construction workers. These private sector jobs are physically demanding and often more dangerous. There is even less justification for the extraordinary promises to teachers, state workers and legislators.

Local leaders failed us, too. They supported this agreement because they wanted 30 years to fund previous promises. Unfortunately, this means our children will pay for our failure to collect revenue for services already consumed. It seems the federal government, Illinois, Chicago and suburbs all buy services using a credit card imprinted with our children's name. Life span increases, lower investment returns and inflation protection ensure that today's promises threaten their future.

The only solution is to move all new state, municipal, safety employees and teachers to a defined contribution system with a base tied to Social Security. Then our interests and benefits will be aligned and there will be no way to cheat or game the system.

Our children will have to forego much of their savings to provide these workers a carefree retirement and extraordinary benefits. Our children will be in financial servitude to these uniquely privileged workers and legislators. It isn't fair.

Bob Ruffatto

Arlington Heights