The working group formed by Mayor Brandon Johnson in June to tackle Chicago’s acutely underfunded pensions has yet to craft a comprehensive plan to address one of the major fiscal challenges facing the city. The group of state lawmakers, city officials and union leaders aims to craft a comprehensive plan in time to be presented to lawmakers during their spring session, which begins in January, mayoral adviser Jason Lee said.
Increase contributions or cut benefits. Failing one of those, kick the can. Fee for this consult, $100K.
OR, in six months or less, taxpayers could pay the actuaries and lawyers for the City and the unions and for whomever else has unworkable ideas about the issue. Those fees will run into the millions — especially if they hire Mckinsey or another consultant to do a 200 page analysis detailing the obvious.
“Increase contributions or cut benefits. Failing one of those, kick the can. Fee for this consult, $100K.”
100k to provide advice that violates the law? No thanks. Increase taxes or cut other services to fund pensions. Beg for more tax dollars from the state. Pensioners won’t be increasing their contributions nor taking a cut.
Leaving Soon, just not soon enough
2 years ago
Easiest way to solve the pensions crisis for the taxpayer is to MOVE ASAP.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Increase contributions or cut benefits. Failing one of those, kick the can. Fee for this consult, $100K.
OR, in six months or less, taxpayers could pay the actuaries and lawyers for the City and the unions and for whomever else has unworkable ideas about the issue. Those fees will run into the millions — especially if they hire Mckinsey or another consultant to do a 200 page analysis detailing the obvious.
100k to provide advice that violates the law? No thanks. Increase taxes or cut other services to fund pensions. Beg for more tax dollars from the state. Pensioners won’t be increasing their contributions nor taking a cut.
Easiest way to solve the pensions crisis for the taxpayer is to MOVE ASAP.