What do you think a fair & sustainable retirement benefit looks like?
Because every pension fund is funded from different revenue sources and has a unique mix of employees, there is not a one-size fits all solution. Each fund needs to ensure a fair and sustainable benefit for all stakeholders.
Below is a comparison of the proposals for the State of Illinois, the City of Chicago, and the OpenPensions.org proposal for Cook County:
What do you think a fair and sustainable retirement benefit looks like?
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- What do you think a fair & sustainable retirement benefit looks like?
- Should the responsibility for negotiating pension benefits reside with the unit of government responsible for paying the benefits?
- What are you thoughts on Chicago’s Pension Reform Legislation (SB 1922)?
- Do you think Cook County should cap pensions at $106,000? Even for Doctors?
A “fair benefit” is one that allows a median life-style in the state. A “sustainable benefit” is one that keyed to the ability of the population to pay it. This means that benefits cannot grow faster than the economy of the state.