Sadly, there's plenty of venom out there concerning teacher contracts, pay, pensions and collecting bargaining. Allow me, prior to making mention of contracts and pensions, to make the point that collective bargaining, done in good faith by both parties, is critical to solving these problems and concerns.
Collecting bargaining allows give and take by both sides. Done in a serious, respectful and trusting manner serves the best interests of everyone involved. Any locality, state or federal agency that thinks doing away with collective bargaining is anything but ill-conceived will one day lament its demise.
Having said the above, any measure that largely, and that is key, largely guts any pension will hurt everyone concerned. After all, people on pensions spend the money they receive thereby aiding the economy. Gutting the pensions of public employees will simply prolong and protract a downward economic spiral.
In sense, drastically cutting pensions is akin to not renewing unemployment benefits with respect to the fact that those without the funds will do little to sustain business activity.
I receive a Teacher Retirement System (TRS) pension. Can reasonable reforms be made? In fact, I believe they can! Currently, I pay no IL State income tax on my pension. Having a state income tax levied on my Illinois income seems reasonable and I would gladly pay it. Some people would fight this but it is a way to add to the state coffers without really harming my pension.
But, as I said at the outset, making this change must take place through collective bargaining. Decent people who have the best interest of ALL in mind can get the job done.
Dick
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