Moylan Files Legislation Ending Legislative Pension System
DES PLAINES, Ill. – As part of his continuing efforts to cut wasteful government spending and end the era of taxpayer handouts to state legislators, state Rep. Marty Moylan, D-Des Plaines, filed legislation that would end the ability of future state legislators to receive a state pension. Moylan has already personally opted out of the state pension system.
“Serving in the General Assembly should be about public service, not padding one’s retirement account,” Moylan said. “For too long, career politicians in the General Assembly have enjoyed luxurious pension benefits while asking taxpayers to foot the bill. It’s time to end the era of golden pensions for legislators, and start returning taxpayer dollars to the hard working families of this state.”
The General Assembly Retirement System cost the state $15.8 million in Fiscal Year 2015. House Bill 3489 would phase the program out over time by prohibiting new legislators from enrolling in the system. Once all current pensioners are deceased, then the General Assembly Retirement System will be completely eliminated.
“We must continue to cut spending in order to reduce the deficit and return Illinois to a position of fiscal stability,” said Moylan. “It is wrong for the General Assembly to continue to ask for tax increases as long as perks like legislative pensions remain in place.”