DOWNERS GROVE - Wednesday, the topic at the Downers Grove Chamber of Commerce monthly luncheon was what to expect in the upcoming legislative session concerning Illinois pension crisis. The 2011 tax hike has gone almost completely to pay down as much as possible on the nation's most indebted state employee pension system. Panelists that took on the no-fun topic were in agreement, something must be done, and right away.
State Senator Ron Sandack told local businessmen, "There's no where to kick the can down the road," and IMRF Executive Director Louis Kosiba predicted future pension costs will be shifted down to local governments to pay. Bruno Behrend of For the Good of Illinois predicts without dramatic changes, to expect even higher taxes and more businesses heading out of state.
The news is not good and no one really knows what House Speaker Mike Madigan and Governor Quinn's plan will be, Senator Sandack said. The legislature will return after the November 6 election.
