(Part 3) Attack on Teacher Pensions: IRTA Sues for Rights – Sarasota, FL meeting update | Reclaim Reform

(Part 3) Attack on Teacher Pensions: IRTA Sues for Rights – Sarasota, FL meeting update | Reclaim Reform:

(Part 3) Attack on Teacher Pensions: IRTA Sues for Rights – Sarasota, FL meeting update

Posted on February 8, 2014by Ken Previti

My takeaway from the Feb. 5th meeting is about facts versus propaganda. Fact: Illinois is NOT too broke to pay teacher pensions.

Illinois Retired Teachers Association President Bob Pinkerton, Executive Director Jim Bachman, and Lobbyist Andrew Bodewes distributed five sheets of facts that demonstrate the reality of what was covered in parts 1 & 2 of this report. Here are a few of those facts.

* The proposed Fiscal Year 2015 state’s contribution to the retirement fund is scheduled as
$3,412,878,000.

* If the generally accepted actuarial methods were used, the state’s contribution would be
$4,062,168,000.

(Well, so much for legislative honesty in SB1′s legal assurances for the state to “pay its fair share” of pension contributions.)

- Current Pension Funding Status -

* Member