Many people fund their own retirements. In the private sector, under Social Security, employers are required to pay 7.65% of individual-worker earnings, and employees must contribute an equal percentage. Many public sector pension plans reflect this model of shared responsibility. (At the University of Illinois, faculty and staff pay everything toward their underfunded pensions, with no employer match … but that’s another story.) Chicago Public Schools pay its 7% share PLUS the employee’s share of 7%. In an intriguing alliance between Illinois Governor Bruce Rauner and Chicago Mayor Rahm Emanuel, legislation is now advancing to shift the employee contribution to … employees (CPS would continue to pay its 7%). Details here: http://www.chicagobusiness.com/article/20150805/BLOGS02/150809927/rauner-suggests-he-and-emanuel-both-favor-curbs-on-unions
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