Gov. Quinn of Illinois Needs to Look At One24 Retirement Plan for Illinois Workers
Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.
Gov. Quinn of Illinois Needs to Look At One24 Retirement Plan for Illinois Workers
Just think how wonderful it would be to have the Gov. of Illinois put all the state employees into One24. They would not have the worry they now have about adding years onto there retirement age, paying more into the fund and if they don’t like it, NO PROBLEM Said Gov.Quinn it can stay the way it is, you just won’t have any health insurance when you retire.
Good Deal Right?
Well that seams fair right? The state is in a mess and Gov. Quinn is looking for a way to fix it, at all the employee’s expense. These are the fine points of the proposal……
1. Raising the retirement age for government workers from 55 to 67.
2. Increasing employee contributions by 3 percentage points. They currently range from 4 to 11.5 percent.
3. Reducing the cost of living adjustment to 3 percent or one half of the consumer price index.
We know this has been coming for a while and the problems are not from Quinn’s administration, but he has to get a grip on it now. He even said he knows he was put on this Earth to get this done….what?
Really glad he feels that way, not sure if that is Heaven sent. The ratings for the state are looking to downgrade so the legislative leaders and civic groups agree a change is needed.
Union reps for the state workers thought the idea sucked and that the proposal was insensitive and irresponsible. They said forcing public servants to choose between two really different plans that had so much going against them. AFL-CIO President Michael Carrigan said, “It’s clearly an illegal attempt to solve the problems caused by past governors and the Legislature solely on the backs of teachers, caregivers and other public workers.” The state constitution does not allow cutting pension benefits for government workers and the union will go to court if necessary to fight any cuts.
It will be very interesting to see how this all ends, but for me I would rather do something for my self than wait for the government to help me out and show me the way. That’s where One24 comes in. How about you?
If you’re looking for a way to retire or your thinking the company you’re with won’t have that Gold watch for ya …have a look at One24.
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