Imagine you own a business. And through that business you employed more than a thousand people.
Old Joe had been employed with you for 20 years. And, under your company policy, Joe was entitled to receive a pension from you, which equalled 80% of his last paycheck.
Now imagine that at Joe's retirement party you found out that Joe's immediate manager, also your employee, had allowed Joe to work as many as 40 hours a week of overtime so that his pay could be wildly inflated for his final year, and that his pension benefits were more than twice what he would have been entitled to.
What would you do?
First, you'd likely close the loophole immediately.
Second, you'd probably fire Joe's manager for being so negligent.
Well the taxpayers of Illinois are facing the same situation. "Public Servants" are allowed to wildly inflate their final two years of compensation so that their lifetime pension benefits are more than double what they would be entitled to!
Are we closing any loopholes? Nope
Are we dismissing the supervisors that allow this to happen? No, as well.
It's probably time Illinois voters took this matter into their own hands.
Leaders in Springfield have told me, "well, you can't change the pensions that are being paid, or promised, as it goes against the Illinois constitution". In fact, this was one of the reasons that so many unions were actively campaigning AGAINST an Illinois Constitutional Convention in 2008- because they didn't want this provision to be removed from the constitution.
So what are we to do? Here are three possible solutions -
1.
The angry plaintiff - A lawyer friend offered this terrific solution. Any voter, in the state of Illinois, (or a whole class, for that matter) could bring a lawsuit against any and all state agencies AND THEIR DIRECTORS, that allowed employees to knowingly and willfully pad their pension. This is a clear dereliction of duty by the immediate supervisor and agency director. A lawsuit to recover those funds would wake up those directors and managers, while bringing media attention to their fraudulent activities.
2.
Who want's to be the new Attorney General? - Steve Kim is an attorney running for the Illinois Attorney General position. His is an admirable quest, as he's running against Lisa Madigan (one of the top voter getters in the state). Mr. Kim would make state headlines, and garner plenty of support, if he announced his intention to bring charges against those individuals that perpetrated the pension padding in the state of Illinois. Making that the sole issue of his campaign would provide a focus of: public corruption and the need for pension reform. Lisa Madigan could be vulnerable on the issue for letting things proliferate on her watch.
3.
Let's bring it to the voters - It's a tough road, but not impossible. The voters of Illinois can change the constitutional provision which prohibits the state legislators from touching pension payments. However, with enough petition signatures, the issue can be put before the voters. I'm confident of the outcome. Here's a suggestion - Given the state of financial decay in the state, once we remove the constitutional hindrance, let's prohibit any state employee from receiving more than $100,000 in pension benefits from the state. It's an amount that would keep most retirees in good financial shape, while eliminating the ones that padded their retirement.
Those are my ideas......what are yours?