ILLINOIS’ TIER II IS IN VIOLATION OF THE LAW AND PRITZKER’S PENSION PANEL ALMOST SAYS SO.
It was a decade ago that I stood on the floor of the Illinois Education Association’s Representative Assembly as a delegate and pleaded with them not to open the door to discussions with the General Assembly on pension reform.
Madigan would read it as our concession, I warned.
And that’s just what he did.
We lost the vote at the RA and a week later Tier II was born.
Beware of following union leaders blindly.
The shocker in the report is something that’s been quietly discussed for awhile in Springfield but has not until now become prominent. That’s the finding that the 2011 reforms may violate federal law.Under federal standards, local pension systems that substitute for Social Security must pay at least the same level of benefits to get “safe harbor” status, a legal determination that the system follows the law. But, said the report, the creation of CONTINUE READING: Illinois’ Tier II is in violation of the law and Pritzker’s pension panel almost says so. – Fred Klonsky