To the Editor:
Let me get this straight. Can anyone tell me how our state’s pension fund arrived at a $93 billion deficit? This didn’t just happen overnight! I’ve got a few clues about this ongoing mismanagement for many years, under many administrations.
I’ve heard details about how the amounts of some Illinois state pensions are calculated. More than a handful of retirees have told me their pensions are based on the final three years of service, where in those final three years salary is exponentially increased. Administrators to government and public agencies hold control over some of the evaluations of their own pensions, sometimes to their benefit. Fox in the hen house, anyone?
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