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The Illinois constitution prevents any change to existing pensions, so they're stuck there. The state constitution has to change first. As I understand it the
by Izkata 3y ago
The Illinois constitution prevents any change to existing pensions, so they're stuck there. The state constitution has to change first.
As I understand it they could do something like not offer pensions to new employees, but that probably wouldn't work out well.
- cozzyd 3y agowell, there's now a two-tier pension system, with newer pensions being much less generous. e.g. https://ctpf.org/member-resources/new-members/tier-1-vs-tier-2-pensions https://ctpf.org/member-resources/new-members/tier-1-vs-tier... But the tier-1 pensions can't be retroactively changed per the state constitution.