SPRINGFIELD (WGEM) – Public employees, including teachers, firefighters and police officers, descended upon the Illinois state capitol Wednesday calling on lawmakers to fix a pension system they believe is not working.
The public employees were united as one in Springfield Wednesday, but for retirement, they are divided. That’s because a 2010 state law separates them into two groups. Tier 1 employees were hired before 2011. Anyone hired after that is a Tier 2 employee. They have to wait longer to get their full pension.
“We have to fix that,” said Bloomington High School special education teacher Brandon Thornton, a Tier 2 employee.
As a teacher, Thornton can‘t retire until he’s 67. His Tier 1 colleagues can retire by 55 if they’ve worked for at least 35 years, or by age 60.
“I want a fix. I want a fix to Tier 2. I think 67 is way too late.” Thornton said.
According to the Illinois Education Association, nearly 3 in 5 teachers have considered leaving the profession, and the retirement system is a major reason why.
Though there’s no quick fix, lawmakers have filed bills in both the state House and Senate to address Tier 2 problems. If passed, it would bring the final average salary pension calculation in line with tier one, align retirement ages between the tiers, implement an across the board 3% simple interest cost-of-living adjustment for all Tier 2 members and close and adjust the pension salary cap to match the social security wage base. That will address the so called “safe harbor” problem and ensure their pensions equal what they’d make if they received social security benefits.
“Teachers deserve to retire with dignity and respect. They should not have to teach until 67. They should not have to make less than they would if they had been on social security. I hope that we fix this issue,” said Cyd Paulsen with the West Suburban Retired Teachers Union.
Illinois Gov. JB Pritzker (D) was asked Wednesday about potential changes. He said it’s key the state meet the social security “safe harbor” minimum, which would be paid out over several years.
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November 13, 2024 at 11:05PM
