Today’s Fat Cats Get Special Exemption Under Illinois Pension Deal – WP Original
December 1, 2013 By: Mark Glennon Under a particularly galling provision in the outline of the pension deal recently released, today’s fat cats get special protection. Means testing should be a key theme in any pension cuts. That is, small pensioners who really need their pension, who worked to a true retirement age and didn’t spike or double dip, deserve more protection than fat cats with excessive pensions. Towards that end the pension deal appropriately includes a “pensionable salary cap” — the salary on which pensions are based would be maxed out at about $110,000. But