A press release from State Rep. David McSweeney:
McSweeney Refuses Legislative Pension and Files Bill to Eliminate Legislative Pensions
Cary, Illinois – State Representative David McSweeney (R- Barrington Hills) has voluntarily cut his pay and district office budget and has refused to participate in the legislative pension system. He has also filed legislation to eliminate pensions for legislators.
House Bill 179 would eliminate legislative pensions for all new members elected in the 2016 election and beyond.
David McSweeney
A bill introduced by McSweeney last legislative session that would have also halted legislative pensions for existing members did not receive adequate support.
“We are in a financial crisis and we must cut unnecessary spending, not raise taxes,” McSweeney said.
McSweeney also praised the growing number of members who have also chosen not to accept pensions.
“Legislators must lead by example during this financial crisis.” McSweeney said.
It’s very obvious the legislators, Governors, and public sector workers have taken advantage of everyone outside the Illinois public sector pension systems over the years.
Migrate to a 401K where the employee bears their fair share of the risk instead of dumping all the risk on the backs of taxpayers.
But a 401K is not a panacea, the same people that got us into this mess still have plenty of room for manipulation, with bonuses, generous employer contributions, generous amounts of sick days, generous vacation, generous healthcare benefits, have the state contribute to the 401K in addition to the school district, have the employer pick up the employee contributions to the 401k, etc.
Why not propose legislation to cut in half or more of all the legislators who did not pay into the pension system but used the pension money for other projects.
This would effect both Democrats and Republicans and they since they won on lies and should have raised taxes for those other projects it would be just punishment.
Republicans and blue dog Democrats want to always cut future recipients even though they claim to worry about the futures if children but it is our younger generation who are taking over these jobs.
Instead those who voted to take this money from taxpayers but were not good guardians and spent it on other things should have to pay.
so only retired or independently wealthy people will be in the Illinois State Legislature.
Doesn’t sound like that great of an idea.