Please join Senators Cronin, Dillard, Pankau, Radogno, and Roskam for a special briefing Wednesday evening to review the impact of Senate Bill 27, the burden it creates for future taxpayers and the risk of future raids on retirement funds.

 

Last spring, Governor Blagojevich and his legislative allies pushed through a massive raid on the state's retirement systems in Senate Bill 27 (Now Public Act 94-0004). The legislature voted to divert funds owed to the retirement systems by $1.2 billion in 2005. This year, the General Assembly is scheduled to divert another $1.1 billion, for a total two-year raid of $2.3 billion.

 

The retirement system raids can be reversed, but only if the public understands the issue and is vocal about demanding changes. The retirement system briefing is a first step to educate the public on this critical issue.