Yellow | For those who think all is rosy except at YRCW

[Triplex]

SPRINGFIELD --- The Illinois General Assembly today narrowly approved a major overhaul of the state government worker pension system following hours of debate on the controversial plan strongly opposed by employee unions.

The House voted 62-53 to approve a measure that aims to wipe out a worst-in-the-nation $100 billion pension debt by reducing and skipping cost-of-living increases, requiring workers to retire later and creating a 401(k) option for a limited number of employees. The measure needed a minimum of 60 votes to pass the House. (See how House members voted HERE.)

Moments earlier, the Senate voted for the measure 30-24. The bill needed at least 30 votes. (See how the Senate voted HERE.) The measure now goes to Democratic Gov. Pat Quinn, who has said he'll sign it.

Illinois lawmakers approve major pension overhaul - chicagotribune.com

 

[little d]

Triplex, once again the working man through no fault of their own, takes it in the shorts.

It's documented fact that wall street investment groups sold these pension funds on the caustic investments...why isn't anyone going after these groups...oh thats right, were too busy bailing them out...with OUR tax dollars...

 

[Hoodock]

SPRINGFIELD --- The Illinois General Assembly today narrowly approved a major overhaul of the state government worker pension system following hours of debate on the controversial plan strongly opposed by employee unions.

The House voted 62-53 to approve a measure that aims to wipe out a worst-in-the-nation $100 billion pension debt by reducing and skipping cost-of-living increases, requiring workers to retire later and creating a 401(k) option for a limited number of employees. The measure needed a minimum of 60 votes to pass the House. (See how House members voted HERE.)

Moments earlier, the Senate voted for the measure 30-24. The bill needed at least 30 votes. (See how the Senate voted HERE.) The measure now goes to Democratic Gov. Pat Quinn, who has said he'll sign it.

Illinois lawmakers approve major pension overhaul - chicagotribune.com

Once it's signed into law it heads straight to the courts!!

 

[albag]

Once it's signed into law it heads straight to the courts!!

The unions won't get any relief there. Federal judge ruled yesterday that Detroit may proceed with its bankruptcy. That's what I mean when I say the balance of power has shifted.

 

[bubbadog121]

The unions won't get any relief there. Federal judge ruled yesterday that Detroit may proceed with its bankruptcy. That's what I mean when I say the balance of power has shifted.

I used to hear the old timers say, "I hate the direction this country is heading", I would think to myself, They just like to complain!

Now, I say, the direction this country is headed, and, is now in, makes me sick!

It seems that dishonesty in politics and corporate America is the norm.

 

[bandersnatch]

Triplex, once again the working man through no fault of their own, takes it in the shorts.

It's documented fact that wall street investment groups sold these pension funds on the caustic investments...why isn't anyone going after these groups...oh thats right, were too busy bailing them out...with OUR tax dollars...

Our pension was sold to us of the same premises. Ridiculous estimates of returns, membership, and retirements...pension plans all over the country are going broke for the same reasons. Organizations were sold things that they really didn't understand but looked too good to be true...