Monday, Sep 1, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

State employee unions want expedited ruling in pensions suit

State retiree insurance premiums dropping to pre-July 1 levels

Average Illinois public pension catching up to average salary

Amending Illinois Constitution a tough path for pension reform

Moody’s says Illinois Supreme Court ruling is ‘credit negative’ for state

Recent Comments

UJacks1 - Durbin makes fund-raising stop in Quincy - Quincy, IL News - QuincyJournal.com
Why did this occur at QU? Catholic? Life not abortion. Birth control? How can any Christian be a Democrat? How can Catholics be Democrats? Practicing Catholics, practicing Christians, anyway. A Christian would not condone murder of innocent babies inside or outside a womb. If one says "no" to the death penalty how can one support abortion? If one takes the death penalty away from a convicted criminal…
bml81 - Lovelace\'s first court appearance tentatively scheduled - Quincy, IL News - QuincyJournal.com
If u get indicted it usually isn't a good thing. They usually have enough on you to convict you or they wouldn't waste there time. Doesn't surprise me though with the corruption in the court system though. I worked at dot when Mr Lovelace was a manager there.My personal thoughts is he shouldn't get special treatment in a different facility just cause he use to work in the states…
ONCEMORE1 - Strawman: Obama Extends Another Digit...... - Quincy, IL News - QuincyJournal.com
Care to be specific or just another empty claim?
DRUM57IX - Hiding public records in Illinois now a Class 4 felony - Quincy, IL News - QuincyJournal.com
Unfortunately, the dems were able to put that one little word "intentionally"...meaning that they took a page out of Obama's book and will now all claim they didn't know anything about what, if anything, was being held from the public...
XBgCty - Rauner to make Quincy stop on Saturday - Quincy, IL News - QuincyJournal.com
The one that was supposed to be passing out the petitions here in Adams County-- the one who signed it at the bottom, and got paid the money per signature, was from California. That was one of the reasons some of those petitions were discounted in Adams county.

Most Popular

Lovelace indicted in death of first wife Updated

Indictment alleges Lovelace suffocated first wife Updated

Committee prepares to hear Garbage and Recycling pitch

Gems sale not yet final

Missing Quincy man found dead in park Updated

Committee sends new garbage and recycle trucks plan to Quincy City Council

QPD makes DUI arrest after hit and run

Adams Co. Real Estate Transfers from Aug. 18 to Aug. 22

Illinois’ real pension crisis: Finding enough taxpayers to pay the bills

Illinois’ real pension crisis: Finding enough taxpayers to pay the bills

10 months, 1 week ago by Ben Yount, Illinois Watchdog

The top Democrat in the Illinois Senate says the state’s worst-in-the-nation pension debt is not a crisis. And he’s right.

Senate President John Cullerton points out that Illinois’ pension debt merely is slowly bankrupting the state.

Cullerton said the real crisis, in his mind, is making sure there is enough tax revenue to pay the states’ nearly $9 billion a year pension payment. But he is wrong.

Cullerton should be worried there are enough taxpayers to pay the bills.

Illinois have close to 1 million government workers — teachers, state employees, local cops and firefighters, and federal employees all due some sort of public pension.

But there only 4 million workers in both the public and private sectors combined, and the total public-sector pension debt is astronomical.

“The entire gross domestic product (GDP) of Illinois, the measure of all goods and services produced in the state, is only $644 billion,” Adam Andrzejewski, founder of the watchdog OpenTheBooks.com told Illinois Watchdog. “The teachers’ retirement plan is underfunded by estimates of $100-$200 billion. That’s up to one-third of everything produced by the entire economy in a year. It’s a crisis verging on bankruptcy.”

Andrzejewski said there is no way 75 percent of workers in Illinois can continue to guarantee 90 percent of the costs for “gold plated” public pensions for just 25 percent of workers.

“Those government employees have guaranteed salaries, generous sick time and vacation packages, most have 80-100 percent paid health insurance,” Andrzejewski said. “None of this is found amongst rank-and-file employees in the private sector.”

State Rep. Tom Morrison, R-Palatine, said Illinois needs to head off its real crisis and end defined-benefit public pensions. 

“The taxpayers that we are counting on to help subsidize retirements are getting more and more concerned about (paying) higher taxes,” Morrision said.

Morrison is one of a handful of lawmakers pushing for a 401(k)-style retirement plan.

“You preserve what (public employees) have earned up to this point,” Morrison said. “But going forward, you give them the ability to control their own retirement plans.”

Current pension reforms would only tweak the system for public employees. Illinois still will be facing billions of dollars in retirement costs while having to scale back services to the public.

Morrison said Illinois cannot afford to pay so much for pensions for so few.

“While (public employees) have a guarantee in the Constitution that says pension benefits cannot be diminished, there’s nothing in the Constitution that forces taxpayers to stay in Illinois,” Morrison said.


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 13 hours, 55 minutes ago

Oberweis gaining on Durbin in IL U.S.Senate race - Durbin has 7-point lead in Sun-Times poll http://t.co/Dixa3gcDjv
QuincyJournal on Twitter

QuincyJournal 13 hours, 55 minutes ago

Quincy Tea Party monthly meeting Sept 2nd http://t.co/fnBUxKKvPb
Bob Gough on Twitter

Bob Gough 17 hours, 15 minutes ago

RT @jthom1: Michael Sam has cleared waivers.
Bob Gough on Twitter

Bob Gough 19 hours, 36 minutes ago

RT @BrianCostin: It’s now a Class 4 felony to hide public records in Illinois http://t.co/D0AK0DQqgi via @illinoispolicy #twill