Only in Illinois, the line makes a trick turn and shifts a large chunk of federal funds meant for poor children to pay down the state’s pension debt in the teachers’ retirement system — a loss of at least $59 million for school districts outside of Chicago.

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Rick

Isn’t it illegal to use federal funds with specific rules for its use on something like a pension deficit? Wow I would have thought that was illegal, and I’m not even an attorney.

James Gordon
Good point, but doesn’t the same concept apply when its done in reverse where money actuarilly needed to support the various IL employee pension funds is partially diverted to other, more politically expedient purposes? Its beyond strange that those in the private employment sector see it the way you’ve cited, yet fail to see the other side of that same coin. From time to time state-level politicians will remark that funds legally due the pension funds has been provided due to some last-minute authorization, but what’s legally required is almost never even close to what’s actuarially required. Thus, the pension deficit problem continutes to grow ever worse… Read more »
nixit

“…employee pension funds partially diverted to other, more politically expedient purposes?” You mean, like employee compensation such as wage increases, health benefits, promotions, job openings, etc?

It’s beyond strange that those in the public employment sector see it the way you’ve cited, yet fail to see the other side of that same coin.

James Gordon
Surely we can agree that adults need to operate government; where, oh where, are they? What’s done in one area of decision making affects what happens in another more often than not, and we need governmental leaders who can see the system as a whole. What we seem to have over and over again are elective governmental office holders who think short-term and really more about their position for the next election than creating a set of governmental policies that generate improvements from a more far-reaching perspective than seems to be the case typically. What we get are band-aid, quick-fix solutions for one problem while ignoring other… Read more »
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