[2banana]

Any thoughts on CUTTING the unaffordable pensions?

[alternatives?]

“Any thoughts on CUTTING the unaffordable pensions?”

I believe that cutting current benefits has been declared unconstitutional by the state supreme court (whose judges also have state pensions).

[Lurker]

“Any thoughts on CUTTING the unaffordable pensions?”

That can’t because the Illinois Constitution declares them to be inviolate. That’s already been litigated to the Illinois Supreme Court. The ONLY way to alter the old pension plans is through Chapter 9 Bankruptcy proceedings filed by the entity involved.

And every politician in Illinois is terrified of that happening. The Federal courts have already basically abolished unsustainable pension plans in California. If that happens in Illinois, and I believe it will, retired State and local workers will be livid and the entire rotten political system here in Illinois will be torn limb from limb.

This proposal by Rauner is just stupid on its face. It doesn’t matter where he “ moves” things to. There’s only one place to get the money from and that’s Illinois taxpayers. It’s a shell game and he knows it. All this would do is move the obligation to pay from the State, which can NOT file for Bankruptcy, to local municipalities and school districts, which CAN file for Bankruptcy.

The Dems know that and it scares the crap out of them.

L