CORRECTION: THE LEGISLATION PASSED TO CUT TO PENSIONS IN CHICAGO WAS FOR NON-TEACHING EMPLOYEES (such as paraprofessionals).
I apologize for my error.
Read the Tribune article HERE and Karen Lewis’ statement HERE.
In spite of state and federal constitutional protections, active teachers will pay more into their pension funds (going from 9.4% of gross income to 11.4%) they are assured will not be there for them when they retire. Retired teachers will also be pillaged in the latest Corporate Education Reform attacks against scapegoated teachers and all things related to public schools.
THERE ARE NO PARTY POLITICS INVOLVED. This ALEC driven, Tea Party plan was introduced by Chicago Democratic Mayor Rahm Emanuel and passed by the supermajority Democrats under Illinois Speaker of the House Mike Madigan and supermajority Democrats under Senate President John Cullerton. Democratic Gov. Pat Quinn plans to sign it. Republicans who opposed this wanted more severe cuts, according to their leadership. Read the anti-teacher coverage by CBS News HERE
As pension cuts are made, tax money is being diverted to corporate campaign donors. Be assured that there is NO truth in the propaganda that passes as news from major corporate owned media. The lies about tax savings and ensuring the long security promises for rescuing the ailing pension funds were exposed days ago by David Sarota HERE.
Excerpt: “A new report being released this morning shows that the supposedly budget-strapped Windy City – which for years has not made its full pension payments – actually has mountains of cash sitting in a slush fund controlled by Mayor Rahm Emanuel. Indeed, as the report documents, the slush fund now receives more money each year than it would cost to adequately finance Chicago’s pension funds. Yet, Emanuel is refusing to use the cash from that slush fund to shore up the pensions. Instead, his new pension “reform” proposal cuts pension benefits, requires higher contributions from public employees and raises property taxes in the name of fiscal responsibility. Yet, the same “reform” proposal will actually quietly increase his already bloated slush fund. But it gets worse: an investigation by Pando has discovered that Emanuel has been using that same slush fund to enrich some of his biggest campaign contributors.”