Let’s make pension cuts fair for all

When the DuPage Mayors and Managers ask for pension reforms they sound like the U.S. Congress: Always willing to pass legislation they are exempt from. As a taxpayer and police officer, I would support any pension cuts to future, current, active retirees and their widows and widowers. The only caveat being in the spirit of the Equal Protection Clause the new law apply to everybody.

It has to allow any public company, private company or government agency to raid all 457s, 401(k)s, private pensions or profit-sharing accounts in order to meet any fiscal shortfalls in the company’s bottom line.

An example would be if MF Global’s poor investment strategy leads to insolvency at any level, the company can take needed funds from Jon Corzine’s and any employee, CEO, CFO’s retirement accounts or golden parachutes. This law should also apply to Congress before they can raise taxes to balance the budget. Like our president has said many times, “We all have to pay our fair share.”

William Golden

Mount Prospect