Considering how effective Illinois government has been in managing its public employee pensions, what could possibly go wrong with this proposal?
“Democrats in the Illinois General Assembly have introduced legislature [HB4595 and SB2758] that would force Illinois employers to pay into a state-run retirement program if they do not offer retirement plans to their employees.”
Any bets on if the money collected for this “state-run retirement program” will be diverted to more pleasing special interests—like unions, cronies and other Friends O’ Dems?
As mentioned at the link there are various and sundry ways to fund retirement without the heavy hand of yet another Big Government Mandate, and aside from the fact that there can be little confidence that the money will be properly allocated, this is just another Democrat move to kill small businesses and start-ups in Illinois. Big Business already provides retirement plans for their employees; this is Big Business working with Big Government and Big Labor to obliterate competition.
Just more proof that Illinois Democrats believe the unemployment rate is too low.