Things can only get worse as people flee high taxes in Illinois

Highway from Hell

Every Illinoisan owes $11,000 for pensions with no fix in sight

While this article is a little dated, it has only gotten worse as time passes.

I have seen net exodus numbers published by Census showing Illinois losing 100,000 people in a year. Thanks to Mike Madigan and the Unions this State is destined to be the best worst State in the Union. Why do I say this? Madigan was at the helm when 20,000 State employees were added to the Union pension plan. At the time 40,000 State employees already enjoyed. This caused a colossal increase in pension costs for the State. Since then the Unions have lobbied the legislature to continually improve benefits… and have been very successful under Madigan’s watch. And it is precisely these pension benefits that are strangling this State’s budget. Unfunded State pension liabilities top $100 billion. And what’s troubling is that employees contribute very little to their own retirement. When the State tried to change that, the Illinois Supreme Court wrote an opinion stating the State could not change the manner in which pensioners were required to pay for their benefits. Turns out in 1970, when Illinois had a Constitutional Convention a clause was added to the document prohibiting the State from making many, if any changes to the pension plans.

Read on if you are interested in getting a glimpse of the future straight from the past.

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