To the Editor:
Kudos to the McHenry County Board and Chairman Jack Franks for moving pension reform forward and not sitting around and waiting for our do-nothing state legislature to act.
When the board was told that they couldn’t legally end state pensions for countywide officeholders, board members John Reinert and Jim Kearns created a legal and sensible plan to offer future officeholders an alternative. Rather than participate in IMRF, they can contribute to a 401(k)-style plan to which the county will offer a match.
This will save money, and will mean fewer elected officials enrolled in a pension system that was never meant for them in the first place. I’m tired of paying into six pensions on my real estate tax bill, totaling more than $300, and not getting an increase in m Social Security for seven years.
I’ve paid into my retirement for 59 years. Can elected officials say the same?
Thank you to John, Jim and Jack for taking the lead on pension reform and making McHenry County a statewide example to follow.