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Public Statements

Issue Position: Pensions

Issue Position

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According to IL Representative Watson, state pensions have been neglected for decades. Illinois has failed to make the investments necessary to maintain a reasonable funding level and our pensions are currently in a worse situation than those of GM when it declared bankruptcy. All Illinois stakeholders -- taxpayers, current state employees and state retirees -- have a vested interest in resolving this crisis. More on State Pensions...

While states currently cannot declare bankruptcy, it is important to note that enabling legislation has been discussed in Washington. Read more on states declaring bankruptcy... Regardless, it is obvious that further reforms are needed and reaching some resolution will demand compromise and cooperation from lawmakers and public employee unions. Pretending that the money will be there ten or twenty years from now is naïve. Tough decisions must be made or the consequences could be devastating for retirees depending on these pensions.


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