This plan would put the pension problem on the shoulders of the local school board rather than the state. This does not directly affect Chicago because the Chicago Teachers Pension is already on the City’s shoulders. This however will be a death blow to the less than wealthy school boards who pay next to nothing to the pension funds right now. It would pretty much eliminate the State’s Pension fund problem.
Capitol Fax.com – Your Illinois News Radar » Get ready to pay… Again
Sure, there will be much handwringing, brow furrowing, and beard stroking in the media, but when all is said and done, Illinois will still be one of the lowest taxed states in the union, will continue to lead Midwest job growth (especially in manufacturing) and will still be a much, much better place…