McConchie fulfills promise, opts out of legislative pension system
Illinois State Sen. Dan McConchie, R-Dist. 26) said this week that he will no longer be part of the state-legislator retirement system, which is funded with taxpayer money, fulfilling a promise he made before his appointment to the seat.
McConchie said he's opting out of the retirement system because he said it is contributing to the state’s pension crisis.
"Illinois legislators benefit from one of the most lavish retirement plans in the country," McConchie said. “I don’t think part-time legislators should receive an outrageous pension for life on the taxpayers’ dime. There is no way I'm going to add further to the people's long-term financial obligations.”
The announcement follows a promise made by McConchie, who was appointed to the Illinois Senate in April, that he would not take part in the state’s pension system. Due to administrative rules within the state pension system, when a senator drops out of the program, the decision is permanent.
McConchie joins several other colleagues who also have opted out of the legislative retirement system. The other legislators who have opted out also cited the state’s unfunded pension liability.
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Lake Zurich, IL 60047, United States
Lake Zurich, IL 60047