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Teachers' Federation Reacts to Pension Reform
Teachers are upset with the latest pension reform bill to pass through the Senate. The Illinois Federation of Teachers said the bill is not fair to teachers.
Federation representatives said they are disappointed, and this bill would unfairly take away from teachers' life savings.
The plan that passed yesterday would require teachers to choose between a lower 3 percent increase in cost-of-living adjustment, or receiving health benefits. The federation said this would hurt the people who need it the most.
"We think it's a bad idea to say to retirees who are on fixed incomes, our most vulnerable citizens, 'Either you're going to get healthcare or lose value in your pensions and get poorer and poorer,'" federation president Dan Montgomery said.
The federation said they have bills out that deal with fiscal reform, as well as form a pension stabilization fund. They said if these measures are met, they would be willing to pay up to 2 percent more into their pensions.