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April 18, 2014, 9:22 am

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GOP Pushes 401(k)-Style Plan For Public Employees


The latest pension plan to be floated before the General Assembly is coming from a group of conservative Republican lawmakers. 

 

The GOP plan calls for state workers to be moved to a 401(k)-style plan… with defined contributions, but not necessarily defined or guaranteed benefits. 

 

The plan is also supported by the conservative think tank Illinois Policy Institute.  Executive director John Tillman, appearing live on 970 WMAY, says public sector pay and benefits are far more generous than the private sector, and taxpayers can’t afford  to pay for benefits that they themselves can’t get.

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