Write legislators about pension ‘fix’

Gov. Pat Quinn’s pension reform proposal provides, in part, that school districts and community colleges pay more toward their teachers’ pensions.

On May 2, House Speaker Michael Madigan said the idea makes sense and noted that 80 percent of the state’s yearly pension payment goes to employees, mostly teachers, whose salaries aren’t set by the state.

The Speaker also stated that fixes to the states troubled retirement system should be done before lawmakers try to finalize the state’s annual budget this month, not put off until after the November election.

What the governor and the Speaker are not telling the media and others is that their proposal to transfer the $83 billion of unfunded pension liability to the local schools and community colleges will also include provisions for the $54 billion unfunded health care liability to be transferred to the local school and community colleges because it is also an employee cost and makes sense.

Presto, the state’s current $137 billion dollar combined pension and health care unfunded liability crisis is “fixed” by Gov. Quinn without any reductions in programs or expenses. Of course, every property owner including corporations in Illinois will realize significant increases in their annual property taxes for the next 50 years or more in addition to the recent 67 percent increase in their state income taxes.

Every property owner should write their Illinois Senate and House representatives and let them know your thoughts on Gov. Quinn’s proposal to transfer the $137 billion unfunded pension and healthcare liability to your local property tax bill.

Howard Snyder

Wheaton