28 states couldn't cover their bills in fiscal 2022, while 22 states recorded surpluses…

[drillsgt]

Get rid of .gov pensions and put everybody on 401k's, let the govt workers see what happens to their money every time they elect democrats!

 

[04FXSTS]

Gun laws were a big part of my getting out of Illinois but not the only reason. The state collects money "earmarked" for pensions but it does not go into a fund for pensions. It is spent on free stuff and crony run social programs they say will help the people in the state. Mostly just goes to cronies and others who kick back money into the politicians campaign funds. Then there is a lot of money that is spent on social programs that is never accounted for. It will eventually destroy the state's finances and that is going to be an ugly scene. Jim.

 

[actaeon277]

And you should know they want us through the feds to bail them out…

of course


Tell them to FO

 

[tim87tr]

Get rid of .gov pensions and put everybody on 401k's, let the govt workers see what happens to their money every time they elect democrats!

There's not many pension systems around anymore for the reasons discussed in this thread. In Illinois they've gone to a Tier 2 system over a decade ago that due to the formula, extends retirement age a solid decade. Yes most have gone to 401s like the private sector yet I'm not sure that overall system has longevity as we're nearing the end of the current fiat currency.

of course


Tell them to FO

While I'll agree in principle, those of us that have worked at one job, including you, would I hope want the pension system to remain solvent.

Whether private or .gov employees, people don't realize what the system is, what has been said in this thread, until the latter part of their career. Then they finish out their career and I guess hope for the best. Planning accordingly with a back up passive income is smart also.