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Old 06-20-2019, 07:24 PM
 
Location: Morrison, CO
34,121 posts, read 18,368,689 times
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YOUR TAX dollars at work. Happy?
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Old 06-21-2019, 09:02 AM
 
997 posts, read 840,076 times
Reputation: 826
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Originally Posted by jasperhobbs View Post
I believe the tier 2 pension is not near as generous. Illinois is not the only state with under funded pension programs. All states either have a tier 2 pension program or have moved closer to a 401K program like most employers have.
What I’ve read is that the tier 2 pension lowered the states (cities counties) contribution 40%. That may explain why there is a teacher shortage.
I don’t know of anyone who would go work for an outfit and get no retirement contribution unless you stayed 10 years. That’s the current plan for public workers, any takers? 1000’s of jobs are available.
There is nothing like Police and fire pensions for any other state worker. Getting 50% of your pay after serving 20 years (75% after 30), based on your last pay period (not averaged over last 4 years), no reduction if you die (wife continues to get 100% of pension).
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