WMBD CBS Channel 31 Peoria | Anti-Tax Group Suggests Pension Reforms

TUA’s pension project on Peoria, Illinois, is featured in this news story from WMBD CBS Channel 31 Peoria.
PEORIA – A group called Taxpayers United of America called out lawmakers at a news conference Tuesday for the state’s massive pension mess.
Leaders are suggesting a plan that would put more responsibility on government employees. The group held a press conference today – saying some government employees are making a lot in comparison to the billions in unfunded pension liability.
The group’s President, Jim Tobin said many county employees can retire at 55-years-old. He claims some are drawing millions from the pension fund in the decades after.  Tobin said Peoria taxpayers pay four times more toward city government pensions than the employees to benefit from them.
He proposes rising the retirement age to 67, amongst other things.
“Increasing employee contributions by 10%, increasing healthcare contributions to 50% for employees and retirees, eliminating all COLA’s, and replacing the defined benefit system with a defined contribution system for all new hires.”