-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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If there are any private union workers like carpenters/plumbers/electricians/etc reading this website if you could you explain how your pensions will be calculated? Don’t give out any personal info just in general.
Is it based on 4 highest years wages or can sick/personal/vacation if any be transferred to pension?
Do you get COLA and health insurance?
What is the earliest age you can retire?
Just trying to compare let’s say union private carpenters to public park district carpenters or whatever.
Well now we all see what union membership means when the new DC administration just made 50,000+ union members lose their jobs. They are after all the party of the working man/woman. Ha Ha to all you tradesmen that voted for Biden (excuse me) President Harris.
Only public sector union members count, but trade unions haven’t figured that out yet.
“Public Sector Union Finances Immune to COVID” is the alternate headline.
Did jb ever follow thru and layoff any of the 700 asfcme workers he announced
after his fair tax bit the dust?….answer, of course not