Illinois State Representative Dwight Kay (R-Glen Carbon) recently introduced legislation to prohibit lobbyists from receiving a state pension.
“Using public funds to pay a lobbyists pension is simply bad public policy,” said Rep. Dwight Kay. “A public pension is intended for retired public employees and is not intended for lobbyists or private association employees. The legislation I filed is a necessary step to reform the pension system in Illinois.”
According to CBS Money Watch, Illinois’ pension debt to GDP ratio is 241 percent compared to Greece at over 100 percent and Illinois’ pension liability is estimated at $100 billion. If House Bill 3667 is signed into law, the following associations will no longer be able to receive public pensions for employees hired after the effective date:
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Illinois Municipal Retirement Fund
State University Retirement System
Teachers’ Retirement System