In a recent email memo to SIUC staff, Glenn Poshard talked at length about the likelihood of major cuts to our pensions (all types, not just defined benefit). He included a great one liner worth repeating:
In my view, this plan, including all of these options, represents no less than a forced migration into lower pension benefit plans for university employees. The notion that proponents of this legislation are suggesting that this plan can somehow withstand scrutiny on the constitutional issue of diminishment of benefits because it somehow provides a choice of options for employees, is comparable to the idea that there are free elections in Venezuela.
2 days ago