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Illinois Debt Consolidation – Was Pension Consolidation an Improvement or Hijacked Opportunity?

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Illinois Debt Consolidation – How to Choose

The move to combine 652 pension funds from around the state into two, to avoid overlapping pension administration costs, is a common sense move. The bill to do that passed the Illinois Senate and went to the Governor for his signature on November 14th. But the bill does more than just move to combine pension funds.

To get more insight, we go one on one with Ted Dabrowski, President of Wirepoints.org, to see what else was included in the bill and what Dabrowski says are some of the troubling aspects of the bill.

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12 Comments

  1. jcman240
    July 31, 2021 at 3:08 pm

    Consolidate them all to 401ks, this shit is ridiculous. My buddies mom is a retired elementary teacher making over 100k pension, wtf

  2. Proman
    July 31, 2021 at 3:08 pm

    Two Governors in a row went to the Federal Pen. Do you seriously believe the Illinois government being infested with Democrat Crooks is going to fix anything? A lot more of them will have to go to the Federal Pen before anything is going to change. And a future bailout for Illinois by the Fed, what a joke – never going to happen.

  3. Aaron Albrecht
    July 31, 2021 at 3:08 pm

    Maybe you could interview David Merriman, Robert Bruno, and Amanda Kass from the University of Illinois Institute of Government & Public Affairs. See: https://igpa.uillinois.edu/report/pension-crisis-mentality

  4. Aaron Albrecht
    July 31, 2021 at 3:08 pm

    Maybe you could bring on a guest that does not come from the Illinois Policy Institute.

  5. David Motyka
    July 31, 2021 at 3:08 pm

    The pension system caused all this.

  6. JJ Arneson
    July 31, 2021 at 3:08 pm

    Love the content, but please fix the audio. Your guests sound fine, but whatever mic you’re speaking into is hard to listen to. It’s particularly bad in the left channel.

  7. HermitTheFrog
    July 31, 2021 at 3:08 pm

    Ponzi

  8. Tony Tontillo
    July 31, 2021 at 3:08 pm

    Expect consistently higher taxes in Illinois. All to keep kicking the can until a progressive president is elected and corrupt Illinois is bailed out. With the 3% COLA (in the private sector we don't get these increases) the current tax rate increases cannot keep up with the public union COLA increases. Springfield is run by the public unions, there is zero hope for Illinois.to reform,. Springfield's vision is to keep denying there a fiscal problem (can kicking) , raise taxes every year, keep giving more to the public unions, and to push for a national bailout. Citizens within Illinois are willing participants, voting into office the same corrupt political people and approving higher taxes in this one-party state.

  9. Coco
    July 31, 2021 at 3:08 pm

    The state is currently offering a buyout for tier 1 employees about to retire, and I hope it's made permanent. To forego the 3% cola, and take the tier 2 cola, a retiring employee would get a lump sum up front, and draw the smaller COLA going forward. Again, I hope it's made permanent.

  10. DC Ryder
    July 31, 2021 at 3:08 pm

    Save investment management fees? The State is going to create two separate new bureaucracys with who knows how many government workers and office buildings and they will have government pensions. Lol all they had to do was reduce the constraints on the types of investments they could have. How can you make a decent return when are mandated to have 55% fixed income?

  11. duncan kelly
    July 31, 2021 at 3:08 pm

    Personally, I thoroughly support all tax increases. 1% residential and 2% commercial. Then taxpayers will be paying their fair share, finally! They voted libtard and they should reap the rewards.

  12. Lawrence Miller
    July 31, 2021 at 3:08 pm

    I watch the Illinois Channel for more realistic commentary and news on these issues. Thanks for interviewing Ted Dabrowski again.