Illinois currently spends more than $10 billion a year on public pensions, and the state’s five systems have an unfunded liability of at least $140 billion.
New to the House committee, state Rep. Martin McLaughlin, R-Barrington Hills, believes HB4098 goes after the taxpayers instead of addressing the unfunded liabilities.
“Twenty-eight percent of our budget now goes to pensions when most states are at 8%,” McLaughlin told The Center Square. “What is our solution? Move Tier 2 to Tier 1 and give them even more. So our solution is to go after the taxpayers’ wallet.”