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Old August 14th, 2014, 02:32 PM   #1
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Illinois Credit rating

How low can you go.

Did you know that Illinois' credit rating ranks just above Kazakhstan's?
Here's how we rank:
Our state boasts the nation's fifth-largest economy, but our long–term debt and irresponsible spending is driving us into the ground.
On August 5, 2011, the United States experienced its first-ever credit downgrade after the government failed to produce a credible plan to reduce the nation's long-term debt. Since that time, the U.S has continued a policy of unrestrained spending and trillion-dollar deficits.
Without comprehensive reform, the U.S. could join the likes of Greece, Argentina and Cyprus in "junk bond" status. We cannot allow this unsustainable path to continue.
To learn more about my work to stop out of control spending and get our country back on track, please visit my website.
For real-time updates, please join me on social media:

It is an honor to represent you in the Senate.
Very Truly Yours,

Mark Kirk
United States Senator
P.S. Did you know you can follow my work this August using an interactive map on my website? Check it out.
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Old August 14th, 2014, 02:38 PM   #2
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Pension Plans.

More mobile than any generation before them, millennials need retirement plans, such as 401(k)s, that are just as flexible.
But if you’re a millennial looking to become a state-government worker in Illinois, you may want to look elsewhere. Mobility isn’t a priority for state officials.
Illinois almost exclusively offers its government workers traditional pension plans. In addition to giving workers no ability to control their own retirement account, these pension plans require employees to work up to 10 years before becoming vested in their retirement plans. If they leave the job too soon, workers forfeit everything their employer contributed to their retirement savings.
Opponents of 401(k)s for government workers argue that pensions are necessary to attract qualified employees. However, pensions are not suited for a modern workforce that frequently changes jobs and is less likely to stay with an employer for decades.
Traditional pension plans for government workers in Illinois actually discourage and penalize mobility.

Illinois is one of several states with pension plans for new teachers that require 10 years of service before an employee is entitled to the employer’s matching contributions toward their retirement.

It’s no surprise, then, that only 38% of Illinois’ new female teachers can expect to vest.

Consider a 26-year-old participating in the Illinois Teachers’ Retirement System. She began teaching in 2011, has three years of experience and must work another seven years (10 years total) before she is vested. If she chooses to leave this job before reaching that 10-year mark, she won’t receive a single dollar of the contributions her employer made toward her pension. She will get back her own contributions toward her pension, and that’s all. She, along with 62 percent of Illinois teachers that are expected to leave before vesting, will not even receive the interest that their own contributions earned.
This is simply not fair to teachers and other government employees in Illinois. Pension plans and their long vesting periods are outdated and aren’t keeping pace with the trends of the workforce.
The alternative is to offer teachers and other government workers 401(k)s that provide much better portability for retirement savings. Almost 40 percent of 401(k)s in the private sector offer immediate vesting, and the rest typically take only a few years.
An employee with a 401(k) in the private sector can leave her job and take all her retirement savings with her, including the employer’s matching contribution.
If it truly wants to attract 21st-century talent, state government needs to modernize its retirement plans – and that means embracing 401(k)s.
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Old August 14th, 2014, 04:28 PM   #3
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Kazakhstan has lots of oil. New pipelines will allow lots of exports soon. What has Illinois got other than Detroit?
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Old August 14th, 2014, 04:35 PM   #4
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Originally Posted by RNG View Post
Kazakhstan has lots of oil. New pipelines will allow lots of exports soon. What has Illinois got other than Detroit?

Heck, Illinois doesn't even have Detroit. But Michigan does.



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Old August 14th, 2014, 08:31 PM   #5
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Quote:
Originally Posted by RNG View Post
Kazakhstan has lots of oil. New pipelines will allow lots of exports soon. What has Illinois got other than Detroit?
Well, ummm. errrr well we don't have Detroit that is in Michigan. We do have Chicago which is a liberal cesspool and is also murder capitol USA. But since its just black on black kids killing each other its not nearly as important to the socialists as a white cop shooting one unarmed black kid. Not that either one is a good thing, just pointing out the obscene hypocrisy of the socialists
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Old August 14th, 2014, 08:33 PM   #6
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Well, ummm. errrr well we don't have Detroit that is in Michigan. We do have Chicago which is a liberal cesspool and is also murder capitol USA. But since its just black on black kids killing each other its not nearly as important to the socialists as a white cop shooting one unarmed black kid. Not that either one is a good thing, just pointing out the obscene hypocrisy of the socialists
Yup, I got that one confused. But the whole Chicago politics scene should fix all ills, shouldn't it?
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Old August 14th, 2014, 08:38 PM   #7
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Yup, I got that one confused. But the whole Chicago politics scene should fix all ills, shouldn't it?
Hahaha I love the smell of fresh sarcasm in the morning
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Old August 14th, 2014, 09:16 PM   #8
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Hahaha I love the smell of fresh sarcasm in the morning
Thanks for getting it. So many on this board seem to totally lack any sarcasm or humor detecting ability.
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Old August 14th, 2014, 10:01 PM   #9
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borat - kazakhstan national anthem - YouTube
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