-- 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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This is business as usual in the CHITTY. The CTU will be paid back big time by the loser taxpayers.
If Brandon is elected he’s going to owe the teachers big time. High on his agenda will be enhancement of the Tier 2 pensions. Getting them realistically attainable six figure pensiion potential would be a start. Then he could focus on earlier retirement for the Tier 2’s. Near parity with the Tier 1’s would be a worthwhile goal for Brandon. What are people going to do if that requires even more raising of real estate taxes – move?
CTU is a terrorist organization. If a CTU member has a conscience and sense of morality and isn’t a grifter then they should use the Janus ruling to leave the union. Otherwise they are terrorist criminal parasitic scum.
I believe officer Ed Burke (who spent some time as alderman and chairman of the finance committee while on leave from CPD) is collecting a police pension.
No he is not, I checked. He didn’t have enough years on the CPD to get one
is Brandon able to qualify for pension & benefits under ctu & as cc commissioner?
Yes, and as CPS teacher, and if he wins the election as Chicago Mayor.
Some of those plans may have reciprocal benefits.
Here is an example of reciprocal benefits.
Chicago Tribune
How Daley beefed up his pension payoutsBy Jason Grotto and Chicago Tribune reporter
May 02, 2012 at 12:00 am
https://www.chicagotribune.com/news/ct-xpm-2012-05-02-ct-met-pensions-daley-20120502-story.html
maybe Vallas is collecting benefits from all his multiple gov gigs as well?