Saturday, September 18, 2010

Move is on to halt inflated Illinois state pensions

The Chicago Tribune reports:
State Sen. Terry Link compares it to winning the lottery.

Local government executives get fat bonuses and retire. Their pensions also are inflated by the bonus amounts, and so their retirement checks get fatter, to the point that they make more from extra pension payments than the actual bonuses.

"These boosts are making people lottery winners, and they don't even have to buy a ticket," said Link, D-Waukegan.
Your tax increase is to "bailout" these sorts of pensions.