Day: January 29, 2015

Must-read of the month: Forbes article on municipal salaries and pensions – WP Original

By: Mark Glennon*   Cynical as we are on this site, I confess to being stunned by some of the numbers about municipal salaries and pensions in The ‘Big Dogs’ Of Illinois Municipal Government in Forbes this week.   Read every word of it.   Rank and file county employees making over $300,000 per year. A school treasurer/administrator who double dipped the Teacher’s Retirement System and the Illinois Municipal pensions for a combined 2014 income of over $485,000. Small town mayors making over $200,000 per year. Spikers, double dippers and just plain pigs, all gone wild.   Worst of all, public

Read More »

New Study: Corruption and Pension Debt Go Hand-in-Hand – WP Original

  By: Mark Glennon*   A research report published by Morningstar yesterday empirically validates a central criticism of public pension plans — that corruption and excessive public pension debt go hand-in-hand.   Morningstar’s Director of Policy & Research, Scott Cooley, ran a simple correlation test between historical levels of corruption and unfunded pension liabilities for all states. Sure enough, corrupt states tend to have larger unfunded pension liabilities. The correlation “easily meets the test for statistical significance,” concluded Cooley.   We’ve known from earlier studies that corruption is costly for taxpayers in many other ways, and Cooley describes some of

Read More »

The feds deliver for Dixon – SaukValley.com

The feds have really delivered for Dixon, from the investigation and prosecution of Rita Crundwell’s $50 million theft through their work in forfeiture and restitution. http://www.saukvalley.com/2015/01/28/the-feds-deliver-for-dixon/anifbga/?utm_source=twitterfeed&utm_medium=twitter

Read More »

Rahm endorsed by 15 labor unions – Sun-Times

http://chicago.suntimes.com/chicago-politics/7/71/327577/sneed-exclusive-rahm-endorsed-25-labor-unions?utm_source=Chicago Sun-Times&utm_medium=email&utm_campaign=236753_POLITICS_1.29.15_SRTEST&utm_content=$LINK_KEYWORD$&dm_i=2JCP,52OH,2KDDSB,ASEF,1

Read More »