Issue Position: Pensions

Issue Position

Pensions:

;Illinois' pension liability is over $100 billion. The reform passed last year may save the taxpayers some money, but not enough to sustain the current unfunded liability and may not be constitutional. The entire pension system is poorly funded at under 40% and each household owes over $30,000 just to cover the pension debt. Illinois' massive pension debt must be paid down in order to protect the system and ensure the massive debt is not forced onto our taxpayers and next generation. I believe that common sense reforms can be enacted without affecting already earned benefits such as:
; - No double dipping
- Interests paid on expiring bonds being paid back into the system
- Allow an opt in, 401K option for employees wishing to manage their own retirement
- For new hires, require a shift to a defined contribution system rather than a defined benefit system.

Source