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Teachers Union President Blasts Pension Bill

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The Chicago Teachers Union president today is tearing into Illinois ’ new pension reform bill.

Like most other jobs with public pensions, Chicago teachers who enter the system now will have to work until they’re 67 to get a pension. And it will be smaller.

Union president Marilyn Stewart:

STEWART: I woke up this morning and I said, ‘I had a bad dream last night.’ This is horrible. I mean, they should put a sign on: ‘Welcome to Illinios. If you’re a teacher, go to Indiana .’

Stewart points out that teachers don’t collect social security. She also opposes a provision that will give Chicago ‘s school district a $400 million break on its pension bills for the next three years.

STEWART: For them to do that was absolutely fiscally irresponsible, for them to fast track that… Have you ever seen them fast-track anything?

The Chicago school district had threatened thousands of teacher layoffs if it didn’t get some sort of relief from ballooning pension bills.Stewart says she sees no silver lining to the bill, and calls it short-sighted because it will weaken the pension fund.

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