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End pensions for all new government hires will eventually eliminate unfunded government pensions. Putting new government hires into social security and 401(k)s would achieve this.
If each government employee in an Illinois state pension fund were required to contribute an additional 10% toward their pension, taxpayers would save over $150 billion over the next 35 years.
Require Illinois government employees and retirees to pay for one half of their healthcare premiums would and save even more – an estimated $230 billion over current projections.
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