Teacher Pensions: Illinois Democrats and Florida Tea Party Republicans are Twins
State pension plans differ widely, especially teacher pension plans. The attack on state pension plans is the same because the big money behind the power politics wants it to be.Illinois Democrats and Florida Tea Party Republicans are twins – not identical twins, but twins nonetheless. Neither is trustworthy or completely honest. Pension reform?
Florida: “Legislative presiding officers told journalists Wednesday a fundamental shift in the Florida Retirement System — making new public employees join 401(k)-style investment plans rather than the traditional ‘defined benefit’ pension system — is the only way to avoid obligating future lawmakers to impose massive tax increases on state residents.”
“If you wait until you’re a 45 or 50 percent pension fund, like Illinois or California, you can’t afford to transition into
