Washington, DC—(ENEWSPF)–December 3, 2013 – Representative Jan Schakowsky released the following statement yesterday on the Illinois pension proposal:
“Members of the Illinois General Assembly have been presented with an unfair pension proposal that places an enormous financial burden on those who did everything right – the public employees who served our state and faithfully made their pension contributions. Yet, this proposal would subject them to deep cuts on their cost-of-living adjustments, which will grow over time and substantially reduce their pensions. For the many teachers and other public employees who don’t collect Social Security, the size of the cuts will take away the retirement security they have earned over a lifetime of work.
“Teachers and other public employees entered into a contract – the obligations of which are recognized by the Illinois State Constitution. It is particularly galling that retirees are being asked to take such a hard hit at the very same time that the legislature is considering additional tax breaks for large, profitable corporations.
“I hope this proposal will be rejected so that a more balanced approach can be passed and one that includes a revenue component and that doesn’t further erode the middle class by putting the entire burden on public employees and retirees.”
Source: schakowsy.house.gov
