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* Heh…
The panelists at times struggled to find common ground, and the deep divide between stakeholders on how to fix the pension funding crisis was painfully evident.
But a pension reform forum sponsored Wednesday by the Daily Herald and the nonpartisan reform website Reboot Illinois did produce civil discourse in the organizations’ attempt to further understanding of the $100 billion mess and, hopefully, prompt meaningful steps toward a solution.
There are no magic solutions to this mess. Legislators are intensely divided. Outsiders and “good government” types think it should be easy, and maybe it should be, but that isn’t legislative or political reality.
And if anybody thinks attending a forum on this topic will “prompt meaningful steps toward a solution” then I want some of whatever they’re smoking. I mean, is Rep. Tom Morrison going to back away from his 401(k) plan because he attended a forum? Nope…
One of the first questions asked to those in the audience was how many in attendance were state employees. When a strong majority in the room raised their hands, Morrison framed his argument that pensions should be moved to employee-managed 401(k)-style accounts with another question to those employees: “Who trusts Springfield politicians?”
“My ideal solution is to get the state out of the defined benefit pension plan,” he said. “One thing we can all agree on is that we can’t trust politicians who have been representing us down in Springfield.”
* Speaking of smoking…
A proposal that would ban people from smoking outdoors on all state-supported university and community college campuses fell five votes shy of the 30 need to pass the Illinois Senate Wednesday.
Sponsoring Sen. Terry Link, D-Waukegan, used a parliamentary maneuver to keep the bill alive for a possible second vote in the future.
More…
“I want to be perfectly clear here that if you go to tailgate at a football game you will not be able to smoke at you car, standing next to your cookout grill, is that correct?” Sen. Chapin Rose, R-Mahomet, asked Link. […]
Sen. Dale Righter, R-Mattoon, ridiculed the bill on the floor.
“So a university employee who is riding on a tractor, out in the middle of the university farm at the University of Illinois or Illinois State University, and who is literally so far away from anyone else that someone would have to use a telescope to see that they’re smoking a cigarette, that person under your bill would be banned from smoking a cigarette?” Righter asked. Link admitted the person would be banned from smoking.
“Surely all of us can get on board with the notion that the duly appointed members of the boards of trustees should be able to make some decisions,” he said. “And that the person who is literally a football field away from anyone else, working on a construction site and wants to have a cigarette, poses exactly no health risk to anyone else. There is a point, even for those who believe in the most active of governments, to which you say, ‘You know what, even Springfield’s arm isn’t that long.’”
* Roundup…
* State prison officials want more money: In a Senate hearing Wednesday, Corrections budget chief Brian Gleck-ler said the department is requesting about $41.8 million to finish out the fiscal year, which ends June 30. The money is needed because Gov. Pat Quinn’s administration was or-dered to pay wage hikes to employees it had withheld during tight budget times two years ago.
* Senate votes to require schools to cover athletes’ catastrophic health insurance
* Senate backs tougher sentences for flash-mob attackers
* Illinois Senate votes to crack down on social media mob attacks
* Rose’s measure to allow victim statements OK’d
* State superintendent on education cuts: ‘Enough is enough’
* David From: Voters say ‘no’ to higher taxes; are lawmakers listening?
* Press Release: Senate passes bill to hide video gambling info from public
posted by Rich Miller
Thursday, Apr 25, 13 @ 10:47 am
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You want to have what they are smoking? You can’t unless you have a valid medical condition and your doctor has passed a background check.
Comment by bicurious Thursday, Apr 25, 13 @ 10:49 am
The “magic solution” is time. That’s why actuaries make the big dough. Start a new tier for new hires and let us old fogeys shuffle off.
Comment by Anon. Thursday, Apr 25, 13 @ 10:51 am
How serious is the pension crisis?
Is it serious enough that Illinois is discussing taxing option contracts at CBOT?
Comment by Carl Nyberg Thursday, Apr 25, 13 @ 11:17 am
I think they should just legalize and tax tobacco and stop with all of the criminalization…
Oh, wait. Nevermind.
Comment by 47th Ward Thursday, Apr 25, 13 @ 11:17 am
Here is an interesting analysis of defined benefit vs. 401K (naturally the group that did the analysis has a vested interested, but it does provide another perspective) http://www.truthaboutpensions.org/files/In-_Defense_of_Defined-Benefit_Pensions.pdf
Comment by illinifan Thursday, Apr 25, 13 @ 11:41 am
Another great perspective from the head of CalPers http://www.fool.com/investing/general/2012/12/27/pensions-vs-401ks-which-have-best-prepared-america.aspx
I have come to the conclusion that this discussion of pensions and which type is financially the best for the state is less about the financing of them and more about how the “financial wizards” and can get to the money.
Comment by illinifan Thursday, Apr 25, 13 @ 11:49 am
- Anon. - Thursday, Apr 25, 13 @ 10:51 am:
Do you mean ANOTHER new tier? We started a new one for new hires just a couple years ago.
Comment by Michelle Flaherty Thursday, Apr 25, 13 @ 12:00 pm
This was on PBS recently. Eye opening for 401k holders.
http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/
Fees, fees, and more fees…
Comment by Happy Returns Thursday, Apr 25, 13 @ 12:08 pm
http://www.ieanea.org/2013/04/25/telling-it-like-it-is-at-pension-forum/?fb_source=pubv1
The IEAs view of Morrison and Nekritz. No IL Senate representation Looks like sides are moving farther apart including the Senate because Morrisona and Nekritz just want to ignore the constitution
Comment by RNUG Fan Thursday, Apr 25, 13 @ 12:08 pm
Elaine Nekritz said it as plain as day:”…..raising State revenue or diminishing benefits are the only two options to get out of this crisis.” Why hasn’t option one been proposed Elaine? Stop worrying about re-election and do what is right! Get the necessary revenue to pay what the State owes.
Comment by Nickypiii Thursday, Apr 25, 13 @ 1:25 pm
=== “One thing we can all agree on is that we can’t trust politicians who have been representing us down in Springfield.” ===
Finally, Morrison says something I can agree with.
At the next forum, Morrison should ask how many people know friends or relatives who lost value in their 401k accounts during the recession.
Comment by Norseman Thursday, Apr 25, 13 @ 1:33 pm
The indoor smoking ban makes sense. But, now outdoors? This should really enhance the public’s respect for the law.
Comment by Keyser Soze Thursday, Apr 25, 13 @ 2:41 pm
Nickkippii
We just raised income taxes from 3 % to 5%…..and now you want more? It’s tough to support unions when they won’t support us. The last 5 years have seen middle class families devasted and now there’s a request for more of the same. And this is coming from a Democrat
Comment by and1 Thursday, Apr 25, 13 @ 8:01 pm
Pretty! This has been a really wonderful article.
Thank you for providing these details.
Comment by competitive intelligence solution Thursday, Apr 25, 13 @ 9:00 pm
Thank you for your 9:00 post, Rep. Nekritz. Feel free to come back and join us again.
This issue has been met, fora-d, and townhalled to death.
Time to make some choices, unless the game is all about delay.
Comment by Arthur Andersen Thursday, Apr 25, 13 @ 10:01 pm
Rich, can the commenters who are working on “improving” the blog’s quality, do something about the spam? I’m afraid AOS is way, way ahead of CapFax on that feature.
Comment by Anonymous Friday, Apr 26, 13 @ 7:36 am