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IFT President Dan Montgomery Responds to Civic Committee's Pension Claims

11/15/2012
The corporate CEO’s represented by the Civic Committee of the Commercial Club have dramatically declared that the pension systems are “unfixable.” Tellingly, the corporate millionaires won’t provide any data to back up this claim, but they do provide a hint into what has really changed.
 
In the letter sent to the Governor, the phrase “political courage” is emphasized as a key factor in the group’s assertion that the pension funds are doomed. We do know that many political candidates funded by the Civic Committee were not elected by Illinois voters and that the constitutional amendment on pension benefits was defeated.  A recent public opinion poll showed that voters blame politicians, not union members, for pension problems. These circumstances facing corporate bosses certainly will have a negative effect on their ability to influence the legislature, so it should be no surprise that they feel all is lost.
 
The IFT and members of the We Are One Illinois coalition are still working towards a real solution--one that is constitutional, fair to workers and retirees, and secures the financial health of the pension systems on which they rely.
 
The coalition’s framework says members of the pension system would be willing to pay more with a guarantee that the state will pay its required portion. The framework also calls for a thorough examination of corporate tax loopholes and the needed revenue that could be generated by closing them.
 

We will focus on fact-based solutions that move our state forward, not inflammatory political rhetoric from corporate millionaires who are out of touch with the general public.

Daniel J. Montgomery  |  IFT President

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