Wilcox declines state pension
Republican State Sen. Craig Wilcox (R-McHenry) is proudly making good on a campaign promise not to accept a state pension.
“Campaign promise kept,” Wilcox, a retired Air Force colonel, recently posted on his Facebook page. “We have declined to participate in the General Assembly Retirement System (GARS). Leading by example."
Wirepoints.com reports that Illinois will need many more lawmakers coming to the same conclusion as Wilcox to have any chance of getting the state out of its ongoing pension crisis anytime soon.
The business and government website estimates that GARS pensions are now just 15 percent funded and overall state pensions are underfunded by as much as $250 billion, triggering the state’s current bond rating of just one notch above junk status.
Running against Democrat challenger Mary Mahady in the 32nd District, Wilcox based his campaign on a platform of property tax reform and greater fiscal responsibility from government.
Wilcox was appointed to fill the seat of Sen. Pam Althoff (R-McHenry) after she resigned in late September.
Senate District 32 includes Lake and McHenry counties, Woodstock, McHenry, and Crystal Lake.