Illinois lawmakers propose new pension fix, but unions vow suit

Comments (4)
marinevet69 wrote:

If they could find a way to get the offshore bank accounts of former Governors and other elected officials currently serving time in jail for corruption the problem would be solved. Most corrupt history of local and state officials by far. Yet we elect an Illinois politician as POTUS,not once but twice. The POTUS sends his closest advisor back to mayor of Chicago,hmm, then the son of a revered civil rights leader is forced to resign from congress. This has been going on for generations in Illinois.

Jan 07, 2013 4:56am EST  --  Report as abuse
actnow wrote:

I live in Illinois and can say without a doubt that the ability of this state to perform it’s most basic functions are crumbling despite the sky high taxes we pay. We now face a downgrade of our credit to the lowest in the nation. And the bulk of the problem is related to the benefits that current and retired state employees recieve, which are far higher than the national average. The Democrats have rigged the Constitution so that these benefits can not be reduced, even if all state functions cease and taxes are 100%. This is the product of a state government that has been completely dominated by one party for decades, and I fear is the model that Democrats seek for our Federal Government as well. America, take heed, Illinois is the canary in the cole mine. Please don’t follow our tragic example. Save yourself while you can.

Jan 07, 2013 11:21am EST  --  Report as abuse
Algernon wrote:

COLORADO COURT OF APPEALS CONFIRMS COLORADO PERA PUBLIC PENSION COLA BENEFITS AS CONTRACTUAL.

The Colorado Court of Appeals has reversed and remanded an initial District Court ruling that denied the contractual status of public pension COLAs in Colorado. The Court of Appeals confirmed that Colorado PERA pension COLA benefits are a contractual obligation of the pension plan Colorado PERA and its affiliated public employers. A huge victory for public sector retirees in Colorado! The Colorado Legislature may not breach its contracts and push taxpayer obligations onto the backs of a small group of elderly pensioners.

The lawsuit is continuing. Support pension rights in the U.S. by contributing at saveperacola.com. Friend Save Pera Cola on Facebook!
In 1977, the U.S. Supreme Court (in U.S. Trust Co, 431 U.S.) clarified that state attempts to impair their own contracts, ESPECIALLY FINANCIAL OBLIGATIONS, were subject to greater scrutiny and very little deference because the STATE’S SELF-INTEREST IS AT STAKE. As the court bluntly stated:

“A governmental entity can always find a use for extra money, especially when taxes do not have to be raised. If a state could reduce its financial obligations whenever it wanted to spend the money for what it regarded as an important public purpose, the Contract Clause would provide no protection at all . . . Thus, a state cannot refuse to meet its legitimate financial obligations simply because it would prefer to spend the money to promote the public good rather than the private welfare of its creditors.”

Jan 07, 2013 11:43am EST  --  Report as abuse
eatingdogfood wrote:

Democratic Hustler Politicians + Corrupt Greedy Unions = BANKRUPTCY BABY!

Jan 07, 2013 8:18pm EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.