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Tell Lawmakers to Reject the Diet COLA

7/16/2013
The We Are One coalition has published a new pension brief that details the harmful effects of a pension proposal that would cut the Cost of Living Adjustment (COLA).
 
Illinois’ public university presidents and chancellors have backed a proposal authored by the University of Illinois Institute of Government and Public Affairs (IGPA). The IGPA proposal would change the COLA for Tier 1 public employee s and retirees from the current annually compounded 3 percent to one-half the annual change in the consumer price index (Half-CPI).
 
The union coalition’s brief outlines why the current 3 percent COLA follows the rate of inflation more accurately than Half-CPI. It also shows why this cut to the COLA is just as bad as the cuts proposed in Senate Bill1. The brief concludes with reasons that the “Diet COLA” proposal is also unconstitutional.

Send an e-mail to the conference committee members and let them know you oppose this proposal.


Then, click here to call your state representative and senators. You can use the fact sheet to inform them of the dangers of a Half-CPI COLA. Tell them instead to demand a vote on Senate Bill 2404 unchanged and to explore alternatives to cutting pensions, such as closing wasteful corporate tax loopholes. Call 888-412-6570 today.

The conference committee could produce a bill anytime this summer, so we must stay alert, be involved, and act with urgency.
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