The state of Illinois and Chicago are not paying their bills
concerning the various groups of workers actually working and retired
and on pension like policemen, firemen, bus drivers, teachers, state and
city workers, etc. In fact, over the last 11 years, the debt added to
their pension funds has been rising @ around 25%, ie, doubling every 3
years and truly a Ponzi scheme. This means that they are either going to
have to cut the number of teachers working and the programs for the
students or cut the benefits for those retiring or retired or a
combination. The state has decided to take away free health care
coverage for those ALREADY retired and on pensions. Most of the pension
funds are expected to be broke in around 10 years.
Pension crisis continues: Dramatic rise in debt for Chicago-area pension plans - chicagotribune.com
Retired state workers to now pay for health insurance - Chicago Tribune
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