Save Our Pensions
Organized by: Ron Langston
For years Public and Private Leaders have systematically underfunded their pension funds, some by design, some by necessity, but the overall result is that many pensioners are facing drastic changes to their retirement from these short sided policies. We propose to force these leaders to adopt a simple accounting change that will save thousands of dollars per employee at no net cost to employees, no direct cost to the institutions, and use those savings to reinvest in their pension funds. Using Illinois as an example- whose Pension Fund is $100 billion underfunded- the accounting change would save an estimated $3.6 billion annually, to be reinvested in their pension fund. Using the savings to secure a loan, the pension fund could realistically be fully funded through this simple process. The money raised will be used to gather the support of all the workers who desire to do something now to support their pension, rather than wait for their leaders to come up with a scheme (that inevitably is not in their best interest.) The employees need to pressure these leaders to adopt the common sense accounting change, and pledge to solve their pension problem with it.