Pensions continue to eat into education budgets
The NYS Constitution says, public employee pensions cannot be diminished
Well, not for any active employee. They certainly have reduced the pension formulas through their use of Tiers 1-6. Raising the employee contribution rates has also cut *net* benefits.
The IL pension may be the first test on pension beneficiaries or bond holders. It’s coming.
The NYS Constitution says, public employee pensions cannot be diminished
Well, not for any active employee. They certainly have reduced the pension formulas through their use of Tiers 1-6. Raising the employee contribution rates has also cut *net* benefits.
The IL pension may be the first test on pension beneficiaries or bond holders. It’s coming.