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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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Well, the Democratic platform is to defund the police, verbatim. Cops are screwed if they do their job or not. There isn’t enough money worth the risk to life, and risk of being prosecuted by your own government. Compared to many other professions cops are embarrassingly underpaid for the risks. I don’t blame them one bit for going strictly by to book, if it ain’t in the book, don’t make the effort. Go slow to calls, if the perpetrator is black then back off, not worth being labeled a racist. And if you have cash head to Florida, if not… Read more »
150,000 Citizens left Illinois so 1,000 cops is no big deal. Everyone is getting out of Dodge.
The Greedy Blue Northern states are losing population at an alarming rate.
Americans Are Leaving High-Tax New York and Moving to Florida (msn.com)
Our leaders have made it so that nobody want to be the Chicago Police.
This is why you don’t leave home without it.
What if the future of CPD is less police? It’s a serious question each candidate should answer.
It’s no different than any other profession. What if fewer candidates, for whatever reason, want to work in law enforcement? How are you going to effectively police with a smaller workforce? More technology? More efficient patrolling? How do you more/same with less?
It leads to fewer applicants and less qualified and more corrupt police officers. Chicago insists that it needs a police force that ‘looks’ like the city and it will get it good and hard. A community replete with gang bangers and violent drug users means the city has to scrape the bottom of the barrel to find passable academy candidates. Look at the corrupt cops in Memphis so incompetent they couldn’t even administer a little ‘street justice’ correctly. Overlooked in all of this, that no one wants to address, is that police forces in major cities tend to be family… Read more »
I’m sure wp-ers can vote me down– but with 11,611 officers, I believe Chicago still has highest or 2nd highest # of cops per capita than any big US city. I believe CPD is only big city police force to assign fully sworn officers to performing administrative duties?
I heard from a CPD that the smart, young officers are bailing because of pension issues.
As explained to me , a hypothetical 21 yr old can graduate the academy in 2023.
After, 30 years of CPD, the 51 year old officer would get 50% of his salary.
Presently, i believe it’s 25/55 with life-time health insurance.
That doesn’t leave much spending money in Punta Gorda, FL.
2022’s 695 criminal homicides in Chicago, the highest in the nation.
Everyone is running for their lives, even cops.
The Chitty is paying them $5 million or more to retire. Even a stupid lazy cop can figure this one out.
And the cops that remain have gone fetal, barely do anything.
9 of every 10 black children in Chicago can’t read at grade level. That Chicagoans are burdened with nearly $100 billion in pension debts. The pension time bomb is the largest theft in history.
I applied to be a policeman but I couldn’t spell my name correctly in the application so I was rejected. I tried the fire department but climbing ladders was very scary so no go with that idea. Teacher? Good grief I would have to learn how to read and write. So I’ve been standing on a corner to years begging, not bad, some days I make $20 bucks. Punta Gorda is warmer but i see all the retired people happy and enjoying life while mine is miserable so back to Chicago and the daily corner standing grind. I’m such a… Read more »
What’s the wait list to be a CFD fireman? Is it still a mile long? I remember in the 1990s when they had an open call for candidates and it was a madhouse. Do you still have to know someone to get in?
Luxury homes in Punta Gorda and Luxury cars, I can hardly wait.
Tyson Foods has listed the company’s former corporate office space in Chicago on the sublease market.
The company also shut down offices in Downers Grove, Ill., and Dakota Dunes, S.D. with a total of about 1,000 employees affected by the transition.
Everyone in their right minds is fleeing Illinois thanks to the Pension Time Bomb going off.
PPF lots of space to rent for your new business to employee as many people as you would like. Try earning an honest living and find out just how hard it is after you pay the HUGE TAX bill.
How much were the pension $$ that they took to Punta Gorda, Fl?
Let see stay in the crime invested Chitty of Chicago or Move to Beautiful Punta Gorda with a $120,000 Plus (3% annual increases) pension per year and not have to work, which one should I take??? All of this at age 45 to 50 years old. Not bad work if you can get it.
I retired at 25 from my city job. 4 years of hard work entitles me to my $150 K pension. What’s your problem?