Over the past week I have met with lots of teachers in groups at local schools about the upcoming veto session of the Illinois General Assembly. Dozens and dozens of teachers. Maybe a couple a hundred or so.
This is a tough time for our teachers to do political stuff. Some are in the middle of parent conferences. We’re heading for the end of the first trimester. We’re busy. Busier than the typical busy.
But still, every teacher must now go online each morning and act now.
“Who is this Civic Committee?”
They are Chicago’s corporate elite. Part of the top 1%.
“Why do they care about teacher pensions?”
Public employee pensions are worth billions of dollars. We teachers and other public employees have consistently paid our full share. The state has frequently failed to meet its legally required pension obligations. Turning our pensions into a defined contribution system would put all the risk on us and create potential for huge profits for those in the Civic Committee.
“Is TRS going broke?”
No. It is underfunded because the state hasn’t done it’s part. But according to TRS trustees, including IEA representatives, TRS takes in more than it pays out.
“Is Illinois broke?”
Like many state governments, Illinois is in deep financial trouble. But neither the cause nor the solution will be found in cutting public employee pensions or public services.
Crain’s reports that Illinois corporations, the members of the Civic Committee, pay the lowest effective tax rate in the entire Midwest. They enjoy the benefits of a huge Illinois talent pool of employees, tax supported infrastructure and other resources that create huge profits for them but they pay very little in return.
It’s their turn to pay up.
Fred Klonsky 