Center for Tax and Budget Accountability http://tspr.org en Constitutional Amendment Won’t Fix Pension System http://tspr.org/post/constitutional-amendment-won-t-fix-pension-system <p>Most Illinois voters might be surprised by their ballot when they vote next month – but they’ll be <em>shocked</em> by the consequences if it passes. Proposed Constitutional Amendment 49 “adding Sec. 5.1 to Article XIII,” claims to address the state’s pension obligations.</p><p>First, given the shortfall of more than $80 billion in Illinois’ five pension plans, voters should ask how a new Sec. 5.1 would deal with the money the state owes those pensions. <strong>It does nothing.</strong></p> Wed, 24 Oct 2012 16:01:00 +0000 Bill Knight 23412 at http://tspr.org Constitutional Amendment Won’t Fix Pension System Tax Expert: Pensions Are Not the Problem for Illinois http://tspr.org/post/tax-expert-pensions-are-not-problem-illinois <p>Conservative estimates indicate Illinois is $83 billion short of what it has promised state workers in retirement benefits.&nbsp; But Ralph Martire of the <a href="http://www.ctbaonline.org/" target="_blank">Center for Tax and Budget Accountability</a> said said there is nothing inherently wrong with the state's pension plans.</p><p>He said the problem is that for 40 years the state “borrowed like a credit card” from pensions to pay for other services.&nbsp;But instead of acknowledging that, state leaders and lawmakers have played politics with the issue.</p> Tue, 21 Aug 2012 15:08:00 +0000 Rich Egger 20337 at http://tspr.org Tax Expert: Pensions Are Not the Problem for Illinois