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They’re enshrined in the constitution of my home state, Illinois, for the public sector, I believe.
by blockwriter 4y ago
They’re enshrined in the constitution of my home state, Illinois, for the public sector, I believe.
- tofof 4y agoNot that the legislature met the obligation of actually funding them for like 30 years, though.
- bushbaba 4y agoGoing to be an interesting next 2 decades as these funds insolvency becomes an issue.
- landemva 4y agoEither feds take over this obligation, or Illinois will go bankrupt, legally disolve, and the land will be absorbed by neighboring States. This is why I expect a federal UBI.
- collegeburner 4y agowhy th should i be paying for illinois underfunding its pension obligations. this is not some natural disaster where the government couldn't predict it, so screw that. i hope all the other 49 states vote against any of that nonsense.
- deleted 4y ago[deleted]
- dragonwriter 4y ago> Either feds take over this obligation or Illinois will go bankrupt, legally dissolve, and the land will be absorbed by neighboring States. US States cannot go bankrupt (They are not only not covered by bankruptcy law, but there is a reasonably strong argument that state bankruptcy would violate the contracts clause. (And the public entities that can go bankrupt via municipal bankruptcy in US law do not legally dissolve when they do.) > This is why I expect a federal UBI. That seems…unrelated.