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Unsustainable pensions

Published: Friday, Feb. 1, 2013 5:30 a.m. CDT

To the Editor:

Much has been written lately backing the Teachers Retirement System. It is written in the Illinois Constitution that these benefits may not be reduced. Too bad they didn’t include the pension of those who worked at United Airlines before their bankruptcy. Or those countless others who, because of some failure in their organization, saw a reduction of benefits.

I, personally, am tired of hearing about the sacrifices that educators have made while working short hours for good pay and benefits. I knew one local history department chairman who bragged of only instructing one class a day. Seems a student-teacher took care of the others. He certainly had a chance to pursue work in the private sector, but instead chose the security of teaching. And don’t even get me started on tenure!

The bottom line is that the money is simply not there. You would have had to contribute twice the amount of money you did in order to continue to garner the level of benefits you receive. Simple arithmetic! Not sustainable! Which aspect are you having trouble with? Should be easy for a teacher!

Teachers were misled, just like the rest of us of this glorious state. Remember the state income tax increase, the one that was supposed to help pay back bills, but instead went to fulfill pension obligations? That’s not sitting too well with a lot of us in the private sector. A property-tax increase may well push us over the edge, perhaps into bankruptcy!

Douglas Knight


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