It was just a few days ago that I posted how Crain’s Greg Hinz and the Chicago Federation’s Larry Msall lied about the cap on teacher’s pensionable raises and a pension spike.
But no sooner had I hit the publish button than the Chicago Sun-Times repeats the lie.
I thought the Sun-Times was the pro-labor paper in town.
I guess we’re on our own folks.
But in the last-minute move on June 1, probably in response to a “Repeal the 3%” campaign by the state teachers’ union, the governor and Legislature bumped the cap back up to 6%. The increase, which was nixed by the House earlier this spring when it was stand-alone legislation, doesn’t affect Chicago, which has its own teacher pension fund.
This latest pension sweetener will allow local school districts to raise teacher’s pay by 24%-plus in their final four years — without having to pay the correspondingly higher pensions. The cost to Illinois reportedly is projected to be $20 million in the first year, rising rapidly to $60 million a year.
- It was the state’s Democratic Party leaders who snuck the 3% cap into last year’s budget at the last moment when nobody was looking.
- Which school district is raising teacher pay by 6% a year? Most are offering less than 3%.
- What happened to the concern for the teacher shortage and the fact that teachers are paid on the average 11% less than those with comparable education.
- An Illinois teacher’s pension takes the average of our final four year raises as part of the pension calculation. The 24% number is baloney.
- $20 to $60 million? The states total pension liability is over $140 billion dollars.
- The pension benefits paid to teachers is small compared to the interest paid on the debt which was created by the state’s decades long failure to pay what they owed.
None of these facts will matter.