Here's one reason why race relations in Chicago are fragile... (Bismarck: 2013, to buy)

[lenniel]

CTU report says pension overhaul would hurt city

You've got the people educating the children in public schools not only playing the race card but also teaching students that you need to rely on the government to take care of you.

The funniest part is them calling for higher taxes. What a surprise. Yup, more money thrown at the problem....that'll solve the crappy CPS situation.

[squirrels]

I don't see anything in that article suggesting that kids are being taught that you need to rely on the government to take care of you. A pension isn't charity, it's the way retirement has always been done til recently. Unfortunately these days the government is one of the only remaining employers that still treat their retiring workers properly.

However, I don't see how black city workers would be hit harder than other workers like the person in the article said. I'm sure there's no proposal on the table to take bigger cuts from black people.

[madpaddy]

The state needs to honor pension commitments it has made in the past, but get out of the pension business for new hires going forward. Let them contribute to and receive Social Security, and have a defined contribution supplement like a 401K. Defined benefit programs have a history of ballooning out of control.

[chet everett]

First you need to get your facts straight:

"The very notion of ordinary workers receiving any kind of post-work payment is relatively new. In traditional societies, children were expected to care for their elderly parents. Not until 1889 did German chancellor Otto von Bismarck bring in the first government-run old age security plan. Canada followed in 1927; the U.S. in 1935.

Private workplace pensions are older. But not until World War II did they blossom in North America – in part because of pressure from newly militant unions, in part because employers facing labour shortages could use them to attract workers without running afoul of wartime wage controls."

A brief history of pensions. Pay attention because you may be about to lose yours | Toronto Star

Same article pretty clearly explains that NEITHER employers or employees like putting MORE money into pension plans when 'expected returns' fall short of NEEDS when people live longer, work less and have to deal with volatility in the stock market. The alternative to employer sponsors defined benefit pension plans in the US are employee owned defined contribution plans -- aka 401(k) / 403(b). If you have such a plan and manage YOUR OWN SAVINGS and big part of managing means understanding that to get appropriate returns you NEED to have appropriate expose to STOCKS -- Can you build a $2 million 401k? - 2 - investing & retirement - MSN Money

&

The Stock Answer [Fool.com: 401(k)]

Additionally you have to KEEP putting money into the market ESPECIALLY when there are declines -- that allows you to buy more shares per dollar and then rebalance WHEN THINGS GO BACK UP. Folks that don't understand that will never be able to retire.

The things that is sick / twisted in Illinois is that the same idiots that are too scared to do this for themselves and then rely on guys on Rauner to do it seem to have no problem with crooks like Stuart Levine taking a massive cut for themselves. Then they are opposed to guys like this running the state. Utter maddness!

Bruce Rauner questions raised on ties to Rod Blagojevich's crony, Stuart Levine - Chicago Elections | Examiner.com

Bruce Rauner Is Karen Lewis

[hlcc]

Originally Posted by lenniel

also teaching students that you need to rely on the government to take care of you.

To be fair, on average Americans have done a absolutely pitiful job at self directed/self controlled retirement funds

[Stillers]

Inferential leaps.... They get the best of us.

[FAReastcoast]

Originally Posted by hlcc

To be fair, on average Americans have done a absolutely pitiful job at self directed/self controlled retirement funds

I agree, but that shouldn't put the burden on the Government to ensure Americans are planning for their retirement.

[mjtinmemphis]

Originally Posted by lenniel

CTU report says pension overhaul would hurt city

You've got the people educating the children in public schools not only playing the race card but also teaching students that you need to rely on the government to take care of you.

The funniest part is them calling for higher taxes. What a surprise. Yup, more money thrown at the problem....that'll solve the crappy CPS situation.

That's not the case. No one is playing the race card but you nor saying rely on the government to take care of you. Race relations are bad all over the country because of racist not because of pension issues or government workers. Particular in Chicago we have too many people raised with little to no exposure of people who are different.

[Chi-town Native]

Originally Posted by mjtinmemphis

That's not the case. No one is playing the race card but you nor saying rely on the government to take care of you. Race relations are bad all over the country because of racist not because of pension issues or government workers. Particular in Chicago we have too many people raised with little to no exposure of people who are different.

I think lenniel is referring to Karen Lewis' comment that the public sector have been one of the few avenues traditionally available which has shored up the black middle class, and a pension default would hurt that group disproportionately.

I suspect that she's right, and that unfortunately there are a lot of people out there who are convinced that there are lazy black City workers who don't deserve the pensions they worked for - and contributed to.

I also suspect that a pension default would hurt people everywhere in this region. I can't stand this "I don't get a pension, why should they?" race to the bottom mentality...

[NorCal Dude]

Originally Posted by FAReastcoast

I agree, but that shouldn't put the burden on the Government to ensure Americans are planning for their retirement.

Said no elderly person on social security ever.