Quantum Windbag
Gold Member
- May 9, 2010
- 58,308
- 5,100
- 245
When will they learn that it isn't fair to make public workers actually contribute to pensions?
Rahm Emanuel to state lawmakers on pension costs: 'Day of reckoning has arrived' - chicagotribune.com
What is that? Emmanuel isn't a Tea Partier, he is actually a Democrat?
Mayor Rahm Emanuel took his case for reining in soaring pension costs to state lawmakers today, saying change is needed or Chicago's "quality of life will suffer."
Emanuel called for a pause on cost-of-living increases for 10 years to allow pension systems "to catch its breath." He wants city employees to increase their contributions 1 percent each year for five years and to allow employees to be offered a choice of retirement plans.
"The day of reckoning has arrived," Emanuel said, saying taxpayers, retirees and employees want politicians to be honest and "level with them" about the problems.
A rare step for a Chicago mayor, Emanuel personally pitched his ideas for cutting costs to a House pension panel. It's an approach that his immediate predecessor, Richard M. Daley, had not taken, though he made a variety of appearances over the years.
Emanuel said the cost-of-living pause is necessary because retirees are getting increases while current employees are unable to get similar increases. For example, a retiree making a $60,000 pension in 1995 is now receiving $100,000. After 10 years of a pause, Emanuel said the plan would go to a simplified cost-of-living adjustment rather than annual compounded increases.
Rahm Emanuel to state lawmakers on pension costs: 'Day of reckoning has arrived' - chicagotribune.com
What is that? Emmanuel isn't a Tea Partier, he is actually a Democrat?