Last week, the Illinois State Journal-Register published a piece by Ty Fahner exalting the state’s pension reform law and detailing the consequences that would face Illinois in the wake of a court rejection.
Now, the newspaper has published a rebuttal from Bob Pinkerton, president of the Illinois Retired Teachers Association.
The letter reads:
“What if pension reform is rejected?”
These words were written by Ty Fahner, president of the Civic Committee of the Commercial Club of Chicago, sometimes referred to as the Millionaires’ Club.
The question should be, “What happens when the Supreme Court reminds us what the Illinois Constitution says in Article 13, Section 5, ‘… benefits, of which, cannot be diminished or impaired?’”
What does the legislature do when it is forced to acknowledge the pension reform lawmakers voted for is in direct violation to their oath of office?
Mr. Fahner writes, “A decade ago, only a small fraction of state revenues went to fund the pensions.”
This is the problem. Over the years, the legislature violated the laws they passed by skipping or reducing pension payments so they could afford new projects.
The state cannot expect retirees to fill the pension gap left by irresponsible lawmakers. It is not right that the legislature is now attempting to reduce benefits to pay for the past negligence of the state.
Over the years, no one complained when new programs were implemented without new revenues because stealing from the pensions seemed harmless to them at the time and these were available dollars already allotted in the state budget.
The bill is coming due for all those years of pension holidays. Illinois has the fifth-largest economy in the country. I believe we can figure out a way to pay our bills.
Read Ty Fahner’s original column here.