Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
12-26-2010, 11:35 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Report: Illinois pension bill may cut too deep for teachers
Report: Illinois pension bill may cut too deep for teachers
Illinois educators’ retirement burdens could end up on the laps of local taxing bodies.
GATEHOUSE NEWS SERVICE
Posted Dec 25, 2010 @ 09:30 PM
Last update Dec 25, 2010 @ 10:50 PM
SPRINGFIELD — In March, the General Assembly and Gov. Pat Quinn saved Illinois $220 billion in pension costs over the next 25 years by passing sweeping pension-benefit reductions for future public employees whose retirements are state-funded.
But by doing so, they may have shifted a big chunk of retirement costs to school districts, local governments and the taxpayers who support them.
The cut to benefits is so severe that future teachers probably will have to be put in the federal Social Security system, according to a consultant’s report for the Teachers’ Retirement System.
“It seems likely that, at some point in the future, the TRS second-tier plan will no longer meet the requirements for FICA (Social Security) tax exemption,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
MS-13 illegals kidnap and sacrifice 14 year old girl to the devil
04-27-2024, 11:00 AM in Videos about Illegal Immigration, refugee programs, globalism, & socialism