Opinion

Action on pensions vital to our future

Posted April 30, 2012 5:00 am

As a not-for-profit, membership-based organization that works to promote economic development in Illinois through science and technology, we recognize the importance of the state’s fiscal integrity and acknowledge that Illinois faces serious fiscal problems. We write today to share our support for Gov. Pat Quinn’s leadership on pension reform. We are also delighted to see the General Assembly working with the governor to address these reforms.

For the Illinois economy to succeed, sustained strategic investment from the state of Illinois is an essential ingredient, but this requires resources. If Gov. Quinn’s proposal is enacted, then the resources will be available. The governor’s plan to stabilize pensions will save taxpayers $65 billion to $85 billion and allow public employees who have faithfully contributed to the system to continue to receive pension benefits.

We need bold and immediate reforms to fix Illinois’ broken systems. The time for action is now.

Matthew Summy

President and CEO

Illinois Science & Technology Coalition

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