A MESSAGE TO TEACHERS: the TRUTH about your PENSION

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Illinois Teachers Chatboard

A MESSAGE TO TEACHERS: the TRUTH about your PENSION

by Illinois Is Broke

Oct 5, 2011

Illinois is Broke – $140 BILLION in debt – and if you’re a teacher its bad news for you. It’s basic math. There is not enough money to pay benefits to current retirees, much less you. That money being deducted from your pay check each month is going to pay benefits to current retirees. So who will pay for your retirement?

Your future is at risk. Where will you be when the money runs out? Sending your children to college? Preparing to retire? Ask yourself, how can Illinois overcome a staggering $140 BILLION retirement debt?

To save the funds, we will need bigger contributions each year. By 2045, we will need 50 percent of each tax dollar collected in the state. The numbers don’t add up.

Watch this video, then take action. Ask your legislators and Union leaders the RIGHT questions and tell them to “Reform Pensions Now.” Your future is in your hands.

Find us on Facebook: [link removed]

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sped You're right, Illinois is broke. But it's not broke because we're greedy or given over generous pensions. We paid into our retirement fund (a MUCH higher contribution level already than most states with NO social security benefits) every paycheck. Every check we did our part!

The state, when ran by both Republicans and Democrats alike, DI...See MoreYou're right, Illinois is broke. But it's not broke because we're greedy or given over generous pensions. We paid into our retirement fund (a MUCH higher contribution level already than most states with NO social security benefits) every paycheck. Every check we did our part!

The state, when ran by both Republicans and Democrats alike, DIDN'T contribute! They were supposed to, but they just put it off to another day. The projections were out there as early as the 1980s, but nothing.

Now, we're greedy!?! No, we're the sensible ones who contributed, but it was the state that dropped the ball! There may be "reforms," but we need to fight tooth and nail to avoid being screwed. Oh, I'm sure we'll be screwed, but it's just a matter of how much. We need to fight for every penny we're OWED, and it is a DEBT that the state owes us. Don't come to us and expect us to give and give and give. We're the victims here and we need to fight for our rights!

The truth is, our pensions were middle of the road 30-years ago. Most other workers gave up their rights to a decent retirement, and now are destined to live in poverty in their old age with (maybe) social security and their anemic 401Ks. Now a whole generation has gone by, and everyone with Wal-Mart benefits is attacking us because we might get a $35,000 per year pension and decent health insurance.

They're attacking US because we might, possibly remain lower-middle-class when we retire, instead of living hand-to-mouth. What they should be doing is fighting for THEIR own benefits, trying to make their lives better, not trying to take from some of the last workers in the country to have decent retirement benefits and standard of living into old age.

This nation and it's people are really messed up. I don't know if we can fix it...

On 10/05/11, Illinois Is Broke wrote: > Illinois is Broke – $140 BILLION in debt – and if you’re a > teacher its bad news for you. It’s basic math. There is not > enough money to pay benefits to current retirees, much less > you. That money being deducted from your pay check each > month is going to pay benefits to current retirees. So who > will pay for your retirement? > > Your future is at risk. Where will you be when the money > runs out? Sending your children to college? Preparing to > retire? Ask yourself, how can Illinois overcome a > staggering $140 BILLION retirement debt? > > To save the funds, we will need bigger contributions each > year. By 2045, we will need 50 percent of each tax dollar > collected in the state. The numbers don’t add up. > > Watch this video, then take action. Ask your legislators > and Union leaders the RIGHT questions and tell them to > “Reform Pensions Now.” Your future is in your hands. > > Find us on Facebook: > [link removed]

Oct 5, 2011

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Steve The current financial state Illinois is in is truly unfortunate. A mess that we were put in through years of political mismanagement of public funds.

In respect of the Public Pensions, it is sad to see some groups attacking the state employees/teachers being attacked as if they are in some way responsible. There is a book that came out re...See MoreThe current financial state Illinois is in is truly unfortunate. A mess that we were put in through years of political mismanagement of public funds.

In respect of the Public Pensions, it is sad to see some groups attacking the state employees/teachers being attacked as if they are in some way responsible. There is a book that came out recently called 'Retirement Heist' written by a Wall Street Journal investigative reporter about the death of pensions in the private sector and how she is starting to see some of it in the public sector as well.

No one knows exactly what the future will hold for teachers' pensions in Illinois. I think one thing is clear: no matter what your profession is, you can't fully rely on your government or your company (or more accurately your politicians and the corporate executives) to provide you with something as important as your retirement.

It is on us to save for ourselves in addition to whatever plan is provided for us. I have made a few videos that can help teachers get on track to start saving for retirement. This is a video I normally only reserve for people who are on my email list but I live in Illinois and really feel for our teachers...the same ones who gave me a wonderful education.

Here is the link: [link removed]

Hope it helps at least one person out there.

Best,

Steve

On 10/05/11, sped wrote: > You're right, Illinois is broke. But it's not broke because > we're greedy or given over generous pensions. We paid into our > retirement fund (a MUCH higher contribution level already than > most states with NO social security benefits) every paycheck. > Every check we did our part! > > The state, when ran by both Republicans and Democrats alike, > DIDN'T contribute! They were supposed to, but they just put it > off to another day. The projections were out there as early as > the 1980s, but nothing. > > Now, we're greedy!?! No, we're the sensible ones who > contributed, but it was the state that dropped the ball! There > may be "reforms," but we need to fight tooth and nail to avoid > being screwed. Oh, I'm sure we'll be screwed, but it's just a > matter of how much. We need to fight for every penny we're > OWED, and it is a DEBT that the state owes us. Don't come to > us and expect us to give and give and give. We're the victims > here and we need to fight for our rights! > > The truth is, our pensions were middle of the road 30-years > ago. Most other workers gave up their rights to a decent > retirement, and now are destined to live in poverty in their > old age with (maybe) social security and their anemic 401Ks. > Now a whole generation has gone by, and everyone with Wal-Mart > benefits is attacking us because we might get a $35,000 per > year pension and decent health insurance. > > They're attacking US because we might, possibly remain > lower-middle-class when we retire, instead of living > hand-to-mouth. What they should be doing is fighting for THEIR > own benefits, trying to make their lives better, not trying to > take from some of the last workers in the country to have > decent retirement benefits and standard of living into old age. > > This nation and it's people are really messed up. I don't know > if we can fix it... > > On 10/05/11, Illinois Is Broke wrote: >> Illinois is Broke – $140 BILLION in debt – and if you’re a >> teacher its bad news for you. It’s basic math. There is not >> enough money to pay benefits to current retirees, much less >> you. That money being deducted from your pay check each >> month is going to pay benefits to current retirees. So who >> will pay for your retirement? >> >> Your future is at risk. Where will you be when the money >> runs out? Sending your children to college? Preparing to >> retire? Ask yourself, how can Illinois overcome a >> staggering $140 BILLION retirement debt? >> >> To save the funds, we will need bigger contributions each >> year. By 2045, we will need 50 percent of each tax dollar >> collected in the state. The numbers don’t add up. >> >> Watch this video, then take action. Ask your legislators >> and Union leaders the RIGHT questions and tell them to >> “Reform Pensions Now.” Your future is in your hands. >> >> Find us on Facebook: >> [link removed]

Nov 10, 2011

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