Check out the lastest about the “real” cost of pensions. Here’s a short quote from the IFT site.
“When you get past the rhetoric and look at the data on pension costs for employees hired today, it’s clear that Illinois’ public pension systems are actually a good deal for the taxpayer,” said IFT President Ed Geppert, Jr. “It’s important to separate the normal everyday cost of the pension systems from the massive debt caused by the unfunded liability. Even the Civic Committee of the Commercial Club agrees that pension benefit levels aren’t the primary cause of the unfunded liability. Changing pension benefits would do nothing to help pay off the debt owed on benefits already earned by employees.”
