Illinois public employee pensions and Israel?

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Illinois State Senator Ira Silverstein.

It takes an amazing level of chutzpah to underfund the pensions, cut our benefits and then propose a bill that uses our pension to pursue your own pro-Israel agenda.

Illinois public employee pensions are the most underfunded pension funds in the country.

This is because the Illinois legislature refused to pay into them what they are required to pay.

Illinois State Senator Ira Siverstein now wants to use them to pursue a foreign policy agenda of support for Israel.

You are probably saying, “What?”

Oh, yes.

Last year Senator Ira Silverstein was defeated in his attempt to defund Illinois public colleges and universities if even one employee supported the Palestinian Campaign for the Academic and Cultural Boycott of Israel.

Now he and a bunch of others are back with an idea that Bruce Rauner loves.

This  bill would require TRS and other public pension funds to research and investigate companies and divest any investments in those that participate in a political boycott of Israel.

Amazingly this bill passed in the Senate 49-0.

Let me remind you that Senator Silverstein voted last year to cut our pension benefits.

Time to make some phone calls to Illinois House members and tell them to leave our pension investments alone.

They’ve done enough harm to our pension funds already.

3 Replies to “Illinois public employee pensions and Israel?”

  1. When encountering a horrible truth, people often want to say it is crazy or not something to get upset about. Others want to pretend that the world is a simple good guys or bad guys situation.
    Today’s blog states a horrible truth.

  2. This is terrible legislation, Fred. It takes the concept of divestment to a whole new level. It also creates a new board, majority appointed by the Governor, that will determine what is to be divested and which is by law exempt from fiduciary responsibility.
    It’s very hard to oppose a pro-Israel bill and the sponsors have pushed this to the limit. They did leave a loophole that may save TRS and the other funds a lot of trouble.

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