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.
Do we really need the “extras” that these people provide or is this just another way for them to get extra money? Most are likely willing to get a pay boost if minimum effort is required. There are few metrics by which added value could be measured. The notion of doing something “extra” is a fiction. GETTING something extra for minimum effort is, of course, part of the nickel-&-dime schemes we see every day. Pay for attending useless meetings where lunch is provided (or a trip to a sunny resort in February) is just another perk for burnouts whose seniority… Read more »
Bombast seems the perfect description for you in that you are usually so quick and willing to be harshly judgmental as an outsider knowing very little of immediate consequence as a natural consequence. The world rarely needs more outside critics who speak without knowledge or hesitation, but I’m sure you feel free to elucidate further. God bless America, one of the few places where “everyman” is an expert.
Oh, the irony of your statement.
Instead of an ad hominem attack, why don’t you have the courage of your convictions and wordsmith a counterargument?
My hominy grits have spoken. Hominy times does it need repeating?
You have already exceeded your quota.
The P.T. pays homage to Barnum who knew that a sucker is born every minute. The circus came to Chicago and stayed.
Democrats buying votes from the teachers union that owns them.
exempting earnings from pension spiking penalties will just serve to further erode the TRS funded ratio which, as of 2025, was a paltry 48% as it merely shifts the financial burden from the local tax base to the perpetually underfunded state level.
Then the solution is to do what they do for fire and police OT. Those earnings do not count towards their pension calculation.