We might do well to follow the pension fight in Illinois

dt.common.streams.StreamServerOur sisters and brothers in Illinois face a crucial vote today to try to stop pension “reform” that threatens the retirement security of public employees and retirees.

Here’s how our brothers and sisters in AFSCME Illinois Council 31 describe this “reform”:

• The big hit, as anticipated, is to the annual Cost-of-Living Adjustment (COLA). It will begin to go down right away for all current retirees—and will be reduced by as much as 30 percent over 20 years of retirement.

• Current employees will be hit by that same change to the COLA calculation—with the same loss of purchasing power over time when they retire. In addition, the COLA will be frozen altogether for up to five years for any current employee when he/she retires.

• The retirement age will be raised by as much as five years for all employees under age 45.

• To give this scheme a veneer of constitutionality, current employees will have their pension contribution reduced by 1%. – See more at: http://www.afscme31.org/news/pension-emergency-take-action-now

Here’s one media story about today’s “World War III” pension vote in Illinois: http://www.suntimes.com/24135769-761/quinn-legislators-gear-up-for-tuesdays-world-war-iii-pension-vote.html?utm_campaign=2013-12-03-Stateline-Daily.html&utm_medium=email&utm_source=Eloqua

It can happen here. A version nearly did in the 2013 legislative session. That’s why it’s so important you sign up for Lobby Training and commit to being involved during the upcoming 60-day session. Contact Liz Hall at 800-562-6002 or hall@wfse.org to register. Online registration is also coming soon. Check at http://www.wfse.org/lobby-training-scheduled-for-jan-4/


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