Town Hall #4: Pension Reform
Crystal Lake, IL – State Representative Allen Skillicorn concludes his series of “4 Town Halls in 4 Weeks” with Town Hall #4 on pension reform. Join him this Saturday, February 8 from 9am – 10am at Panera Bread, 451 South Randall, Algonquin, IL.
In order to truly address the growing pension crisis that is crushing Illinois taxpayers, we must institute serious reforms. While a constitutional amendment, which Skillicorn introduced in HJRCA19, to reform the pension clause would be the optimal solution, political will to do so is lacking. However we cannot stand idly by therefore a pension package of legislation has been introduced by the Representative to address many critical issues where some agreement may be possible.
Major Bills Submitted by Skillicorn:
- HB3868-Raises the retirement age up 1 year.
- HB3859-Cap pensions for all current and retired employees at $132k per year (Same as maximum Social Security contribution).
- HB3860-Ties automatic Cost of Living Adjustment (COLA) to the Consumer Price Index (CPI).
- HB3919-Creates a Tier 3 defined contribution plan going forward after January, 2021 for all state workers.
These modest reforms could restore the health of our system in a decade if implemented immediately. If we continue to do nothing, the solution to this crisis will only get further and further away–possibly to a point of no return. We owe it to every citizen of Illinois and our children to act now.
All town hall events are free and open to the public. Some locations may have limited seating and space. In the event of limited space, individuals will be admitted on a first come, first served basis.
For more information, call 815-893-4884 or email email@example.com.