Illinois lawmakers continue to wrestle with the state’s soaring pension costs. The General Assembly is set to adjourn tomorrow. Yet at this time it’s still unclear which, if any, of the various proposals to reduce pension costs will pass. Unions are fighting efforts that would reduce benefits for state workers, university employees, and public school teachers. But many lawmakers, including House Speaker Michael Madigan, say an overhaul is necessary. They point to Illinois’ 83 billion dollar unfunded pension liability that continues to grow. Madigan told WUIS’ Amanda Vinicky he regrets his role in helping pass an early retirement package a decade ago that wound up adding to the state’s pension expenses and what he wants to do about it now.
Interview With House Speaker Mike Madigan
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Yeah, I called the speakers office and told them it was fortunate that if he retired on 130 or 40 thousand he could afford a few bucks for insurance. The rest of us are not that lucky….
Yeah if my pension was even 60% of his(Madigan) I could afford Health Insurance. And how do you personally even buy ANY GOOD INSURANCE? Most have high dedcutables and co-pays and no pre-existing coverage or perscription drug coverage,which will take 33-50% or more of your pension. I have priced them out of curiosity.More teachers living in POVERTY because of the states misuse of OUR pension money and their failure to contribute.
Pretty easy to decide when you don’t pay for health insurance
Wow, seriously?–I’m already paying $900+ to cover the 2 of us–if I had to go elsewhere?? Much, much more–’course if I were making what HE was, sure, it could happen.