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Speaker Madigan drops cost shift for pension plan

May 31, 2012 By 2 Comments

After much debate on shifting the costs of pension to the local schools, Speaker Madigan has dropped that part of the pension reform. In addition he has put Minority Leader Tom Cross as the sponsor of the bill.

Earlier this week, Madigan sponsored a pension reform bill in the House (SB 1673) that would have suburban and downstate school districts pick up the pension costs for their teachers. That could have shifted billions onto local tax rolls. That worried school districts statewide as to how they were going to pay for such an item.

“I think that there ought to be a shift in the responsibility for the normal cost so that going forward the people making the spending decisions will be called upon to pay the bills,” Madigan said on the House floor after a long day of debate and heated discussions on pension reforms with Gov.Pat Quinn and House Minority Leader Tom Cross, R-Oswego.

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About Lennie Jarratt

Small Business Owner, Education Watchdog, FOIA expert, Founder of For Our Children's Future

  • http://NA Wolf

    The charade by the criminals in the public sector is consistent…they are stealing billions from the taxpayers for their own self-enrichment and you can bet there is no reform of this system by these criminals…look at the defined pension plans and the public sector labor agreements and one can see the fraud with little effort…reform means all public sector labor agreements including politician compensation packages must be approved by public referendum and a school voucher system with a $7000 per student maximum annually…no more school costs on the property taxes …the excessive public sector and their millionaire pensions , over staffing and compensation needs to end now…it is destroying this nation..

  • http://NA Wolf

    These criminals are never stopped…moving a fraudulent pension system and employment system into local property tax funding is a last attempt to hide the fraud and continue the crime…what is needed is restructuring and reform starting with all public sector labor agreements and public sector compensation and benefit changes needing to be approved by public referendum….all school funded is handled via a Voucher System with $7000 per student cap …this will start a meaningful control and oversight of the massive fraud here…for there is no reason that all public employees are not in Social Security, Medicare and a self-directed 401K with a 3% match maximum….these millionaire pensions are outright fraud…