In the Interest of Fairness

by Dave Schuler on January 7, 2013

While we’re on the subject of Illinois’s public employee pension debacle, this might be an opportune time to remind our state legislators that any solution other than letting school districts bear the full freight of teacher retirement continues an injustice. Chicago residents pay the pensions of retired Chicago Public School teachers through Chicago’s CTPF, separate from the TRS that funds the pensions of other Illinois teachers’ pensions. Chicago residents also fund the state’s contribution to the TRS through their state income taxes. We take a double hit.

I’ll repeat my modest proposal to resolve the issue. Failing pushing the full freight of teachers’ retirements to their home district or absorbing the CTPF into the TRS, rebate to Chicago residents that portion of their Illinois personal income taxes that go to pay the TRS. It’s basic justice.

I also predict that if the full freight of teachers’ retirement are placed on their home districts we will see a wave of bankruptcies, unlike anything ever seen in any state. Local governments just don’t have the power to raise the revenue needed.

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Drew January 7, 2013 at 4:29 pm

“Failing pushing the full freight of teachers’ retirements to their home district or absorbing the CTPF into the TRS, rebate to Chicago residents that portion of their Illinois personal income taxes that go to pay the TRS. It’s basic justice.”

Heh. Hard to argue, but it brings to mind the line from an old Supertramp song (dating myself) ………”dreamer, you’re nothing but a dreamer………..”

I can’t believe what has happened to my beloved city. For years it was an article of faith that after our daughter graduated from Benet Academy that back to the city we would go. Lived there for years. Best damned big city to live right in except maybe SF or NY. Now? Property in Naples, FL. Property in Scottsdale, AZ. And IL just absolutely unwilling to come to grips with financial reality. We are headed, like an insect to the windshield of a car, to oblivian.

We are not alone. For many its just “eff-it.” I’m outta here. It will only make things worse….

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