Proposed Pension Reforms to Take Toll on NLSD122, Teachers
One school of thought for nixing the state's $95 billion unfunded liability is requiring local school districts to pay more for teachers’ retirement benefits while increasing employee contributions.
The proposed pension reform legislation was a topic for discussion at the New Lenox School District 122 Board of Education Special Finance Committee meeting Thursday. A number of proposals floated around Springfield this week during veto session, but one proposed by Rep. Elaine Nekritz, (D-Northbook) found some bipartisan support. Howard Crouse, vice president of PMA Financial Network, Inc., Naperville, conducted a financial planning presentation at the finance committee meeting. He said it looks like the state is planning on Jan. 7 or Jan. 8, 2013 to implement a program that shifts the burden for pension reform on the backs of the local districts. The program is expected to begin July 1, 2013. Sign up for the New Lenox Patch …
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Mrs. Featherbottom
10:19 pm on Friday, December 7, 2012
Looking back, I realize this looks like I'm attacking you, I'm not. I'm just adding to your roll your eyes comment of the legislator's pensions. Of course they'll have all their pension and benefits because that's all they look out for is themselves. I'm really getting tired of this "who gives a crap about the little people" bull. I would love for them to stop thinking only about themselves. more ›