Wirepoints’ Mark Glennon on AM560’s Morning Answer
April 22, 2026
No Comments
Summary and audio linked here.
-- Connecting the dots between our economy, government and business --
Elizabeth Bauer: "In a perfect world, the need to make Tier 2 changes would set the stage for a 'grand bargain,' similar to Arizona’s pension reform, in which they got public support to make a very limited exception to their own constitutional pension protection clause. In the real world, in which fiscal conservatives have disappeared from Chicago or Illinois government even as a strong minority voice and in which Covid funds have filled budget holes and allowed the illusion of spending prudence, I don’t hold out much hope for such a solution."
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Audio and summary Illinois bill would override local law to allow homeless living in all public parks – Wirepoints
April 14, 2026
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If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
Mark Glennon on AM560’s Morning Answer: Chicago Fiscal Crisis Worse Than Pre-Bankruptcy Detroit, HIV Surge and Public Health Threat From Open Borders Goes Unreported
April 10, 2026
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Summary and audio linked here.
Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades
April 3, 2026
9 Comments
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.
No hope is an exaggeration, there is a better chance of getting rid of herpes than the pension system will survive.
Better chance of Guv Pigchop dropping a 100lbs!!
Oh there is plenty of hope and it means hiking taxes. Spending could be cut bit I assume that would be racist or something similar so tax hikes it is
I’m glad Bauer called out the Martire’s phony funding assumptions. It’s crazy that no one in the actuarial sciences calls him out on this. And that 80% target only works under certain plan assumptions, none of which the public sector pension plans incorporate. Reduce the funded status target from 90% to 80%, based on the claim that the GAO deems this funded status to be the right target for a “healthy” plan (whether he deliberately misleads or not, he is wrong here, the National Association of State Retirement Administrators or NASRA clearly explained more than a decade ago that 100% funding is… Read more »
So you got 1.) Martwick & co pushing to changing TIER II pension (HB4098) and adding COLA benefits without any actuarial analysis? and 2.) CTBA/ Martire & co pushing to change the pension ramp? If your a chump taxpayer purchasing a home in Chicago, figuring this is your chance to building your “generational wealth” for example, good luck because the ground rules keep changing for how much you are on the hook for in % of home value to pay for ever changing, never diminishing, guaranteed not to be diminished gov class “generational wealth” building benefits. CTU/Brandon & co talking… Read more »
If these pension changes go thru, which I’m sure they will, can those public sec folks who claim the pension debt is SOLELY due to not making required actuarial payments still make that claim? Of course they can. The GA has the ability to determine the costs for any changes to the pension system. The General Assembly understood that the provisions would be subject to the pension protection clause. In addition, the law was clear that the promised benefits would therefore have to be paid, and that the responsibility for providing the State’s share of the necessary funding fell squarely… Read more »
Your 2nd quote is from where?
Also, per article, Martwick wants to propose changes to TIER II without actuarial analysis:
“he hasn’t given up, and this past spring had been pushing for a fix for the entire Tier 2 system, despite the lack of actuarial analysis, which he brushed off as “quite expensive.””Or, does that matter any more? and its just “first we get the money”?
Those words are from the Illinois Supreme Court in a unanimous decision from 3 Republican and 4 Democrat judges.
Also, if the GA votes on something where they don’t know the exact cost then that is on them. As the ILSC stated, “The General Assembly understood that the provisions would be subject to the pension protection clause.” If the GA makes changes they are responsible for the costs.
… except the individuals are immune from personal liabiity and they could never afford to pay for the damage they have caused even if they weren’t immune. It’s like saying the city or the state is responsible for housing and feeding the “unhoused.” Let’s give reparations to everyone whose expectations (contract rights, even) have not and cannot be fulfilled.
The GA represents the people of Illinois and the entire state. No need to go after “individuals” as they are not on the hook. Instead the state is responsible and it has vast taxing ability. Plenty more taxes to be raised and/or other spending to be cut. No need for reparations as pensions have consistently been paid. Maybe you can whine to your representative about reparations for your taxes. Let us know how that goes.
The “law was clear,” but which Illinois laws are being observed by anybody? Traffic? Balanced budget? Pension funding? Rioting? Arson? Murder? I’ve read what the supreme court has written but what reason is there to think the treasurer will send checks that will bounce? Or that the prosecutor would go after a treasurer? Or that Pritzker will declare a state of emergency when retired teachers can’t make their boat payments or pay their prosthedontists’ bills? Saying “it’s the law” seems increasingly like a joke but when it comes time to try to enforce the laws the lawyers for all sides… Read more »
I can assure you that SS and Medicare as as bad or worse that the Illinois pension system. It does not get the publicity, and of course, it is a national problem that politicians will bail out with higher taxes on those that pay higher taxes.
You are correct. SS and Medicare are way worse. They are completely pay go. All the people complaining about paying Illinois pensions will line up with pitchforks if you dare cut their SS welfare checks. Unlike Illinois pensions, there is no legal requirement for the government to pay out social security but that won’t stop the complaining. People want their entitlements.
Thanks. I am glad you understand this. Very, very few do.
No. There is a mountain of Federal Deposit receipts effectively for all the $$$ taken out of the SS ‘Trust Fund’ over the decades since the unified budget act. SS isn’t going anywhere. The main problem is that Leftist Democrats want to extend SS benefits to illegals, just like Pritzker wanted to extend medicaid to illegals.
Well, that was a grim read.
I’ve always imagined that whenever BJ’s posse gets together in it’s various groups there’s always going to be to be lots of stuff that they read going around – New York Times, Washington Post, Mother Earth, Huffpo, Marxist Daily Bugle.
“Oh, Oh look!!! The Gay Galuthumpian’s editorial board gave us five gold stars for our Drag Roller Skate In The Hood For Equity initiative!”
I wonder if even anyone BJ knows has ever read Forbes….
This piece is dynamite. So great Actuary Jane (Liz Bauer) is back, tellen it like it is, writing in Forbes!!! YOU GO GIRL!!!
Chicago Democrats have been using the city payroll as an employment agency (for lazy goldbricks, greedy grifters, and real-world unemployable friends and relatives) — fire every third worker now and the pension crisis gets solved overnight
Massive Dem employment RACKET developed and accelerated under da King Mikey Madigan!!
Madigan actually got his cronies paid by ComEd for doing NO work.
What an ASININE statement so u fire every third worker how exactly does that solved the problem in reality ur solution only makes the problem worse as the contributions from current workers is cut by a third
When you cut the payroll you can take that savings in salary and benefits to shore up pensions, and deal with the city’s other financial craters. MATH!
Math you say do tell when has any bureaucracy ever made cuts and turned around and applied those moneys to cover other short falls don
t worry Ill waitThere would need to be a voter approved lockbox to ensure that the savings revenue isn’t diverted.
This was done in 2016, when Illinois voters approved a lockbox arrangement, which prevents state and local government from using transportation related taxes and funds for anything other than their stated purpose:
https://en.wikipedia.org/wiki/Illinois_Transportation_Taxes_and_Fees_Lockbox_Amendment#:~:text=On%20November%208%2C%202016%2C%20Illinois,other%20than%20their%20stated%20purpose.
Current workers are not contributing. All the money is coming from the government, well the taxpayers.
Now here is the Most ABSOLUTELY Insane comment ever Sir you must be Brain Dead or Mentally Challenged current workers contribute a defined amount every pay day God why do u put so many stupid people in the world
GWTard, You Sir are the lying SIMPLETON!! https://www.illinoispolicy.org/reports/teachers-pensions-whos-really-paying/ The finding that most teachers do not pay into their own retirement funds sharply contradicts union claims that TRS members are paying their “fair share” to the state’s retirement system, and therefore pension reform should not be enacted. This practice began many years ago, when school districts began picking-up the cost of teachers’ contributions to the pension system. By law, teachers are expected to contribute 9.4 percent of their salaries to their own retirement fund. But in the 2009-10 school year, 555 of the state’s 867 districts paid some or all of… Read more »
If you don’t get your pensions and health benefits then demand reparations and get in line! In fact, get in line now because it’s already longer than Pinnochio’s nose (and full of zits at that). AND yo’ mamma wears army boots.
current workers contribute a defined amount every pay day
Snapperhead, I don’t see amything in your response that specifically states you are only talking about Chicago pensions. Liar, you need to be more clear when making a comment.
Now back to reading your People magazine you boot licking union slug!!
[deleted] Please, George, easy on the insults and language.
Haha, da WP brining da hammer down on GWT!!
HEY MARK GO FUCK YOURSELF
A reminder to all that this kind of thing gets you blocked.
Mark,
Neither of the responses below are from me.
Did somebody hack my WP account?
Da Judge
I think it is fixed now. Let us know if not.
Haha GWT. I got you blocked. Now you can go $uck balls you dumb see you next Tuesday. Just keep it clean like me you dumb as$ tard and you won’t get banned next time. Little pu$$y.
GWT,
Me thinks your teeth are not the only thing that is wooden.
Your brain is petrified wood!!