Conservatives are calling for a total transformation of Illinois’ public pension system in the wake of Democratic Gov. Pat Quinn’s failure to reform the program, which is nearly $100 billion in debt.
Illinois lawmakers rejected Democratic Gov. Pat Quinn’s push for pension reform in the state’s lame duck sessions this week, leaving Illinois with nearly $100 billion in unpaid pension debt and the Democratic Party at odds with its labor base.
Republican vice presidential nominee Paul Ryan slammed President Barack Obama for the Auto Task Force’s treatment of nonunion workers who saw their pensions slashed by 70 percent, while their union coworkers lost no funds thanks to a $1 billion “top-off” by GM, during a rally in Sabina, Ohio, on Saturday.
The National Education Association (NEA) faces “staggering” pension problems due to years of unchecked benefits for its members, according to Hot Air.
National Security Adviser Tom Donilon collected more than $148,000 in pension payments from bailed out mortgage giant Fannie Mae in 2011, on top of his White House salary of $172,200, according to a Free Beacon analysis of White House personal financial disclosure forms.
New York City has awarded the investment firm of former presidential candidate and environmental advocate Al Gore more than $16 million to handle pension funds worth hundreds of millions of dollars.