State Pension Hole Creates Dilemma for Deerfield, Highland Park Schools
Proposed shift of pension liability from state to local school districts could mean bigger class sizes and less financial stability for Highland Park and Deerfield schools.
Pension reform legislation that would shift responsibility for teacher retirement from the state to individual school districts was introduced in the Illinois General Assembly last week with the potential to drastically change schools in Deerfield and Highland Park. Authored by state Rep. Elaine Nekritz (D-Northbrook) and state Rep. Daniel Biss (D-Evanston), the proposed bill does a number of things to help ease the unfunded portions of pensions for a number of public employees including teachers. Earlier: Nekritz, Biss Introduce Sweeping Pension Reform Bill Though most of the provisions affect the state as a whole, shifting the burden of teacher pensions from the state to individual school districts will put an added though not unexpected…
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DeerfieldResident
2:15 pm on Monday, December 10, 2012
Couldn't agree more. We need to take these public pensions to a defined contribution program (like a 401k) rather than the defined benefit programs. Sorry public employees, be we cannot afford to keep these pensions in place. I would be ecstatic to see all new employees placed on a new plan and let those already in the pension system stay with it. It's such an obvious solution and I'm not sure … more ›