-- 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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Pathetic.
Damn must be nice
It is. You should have worked a job with a pension instead of hating on those that did. Life is filled with choices.
If anything it seems low for all of his years of service. Although it will jump to over 12k per month starting July 2022. That seems more equitable for all of his years of service.
Lol. Give me a break.
I do have a pension , a railroad pension after working 40 years of my life in all types of conditions outside so there.
So you’re complaining that his is better? He worked until 78 and had a slightly higher pay grade career than “railroad” guy. He worked longer than you, a more important job, and one that gets a better compensation package including pension so there. Stop going through life hating on others that have earned more than you.
This willfully ignores the tax business he had on the side for many years.
Lol
Look at all the dislikes. This must really hurt
Years of service that destroyed IL finances while enriching himself and his friends in the public sector unions. How does one assign an equitable value to that?
It is true that he devoted a lot of years to that service.