State pension plans should be equal

I am an employee of an Illinois state agency of 29 years in which I have been contributing my share to the State Employee Retirement System. It is widely known that while I and thousands of other state employees have been contributing to their pension plan, the state government has not. Because of the state’s irresponsibility toward its own employees, other state employees and myself are about to lose a benefit we have looked forward to and have also earned.

My pension isn’t what you might think it is. For myself and a majority of state employees, a 1.67 multiplier is used. This means it will take 44 years of service to receive 75 percent of my average pay from the last four years of service. Other employees will receive 75 percent of their last day of pay (or year, whichever is higher) at age 50 with as little as 25 years of service.

Why is it these better pension plans are never discussed when it comes to reform? It is only the lower-level pension plans that are reduced. I believe if pension reform is going to happen it should affect every state employee. None should be excluded: legislature, judicial, public safety, teachers, etc. If we are all state employees we should all have the same exact benefits. No one person deserves more than the next. Imagine the savings if Illinois had one pension system instead of five where everyone’s benefits were the same.

Philip J. Krueger

Palatine