-- 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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The bigger question is why Karen Lewis gets 2 paychecks from 2 unions, the CTU and IFT (parent of CTU). Those 80 hours weeks must be killers…
They say no one goes into teaching for the money. Too bad the same cannot be said for working for the union. Some CTU salaries:
LYNN CHERKASKY-DAVIS 233,071
ANNETTE RIZZO 205,221
WALTER TAYLOR 167,823
SARA ECHEVARRIA 160,272
KARL HUBERT 153,298
And local IFT blowhard Dan Montgomery pulls in $227,294. The status quo don’t come cheap…
Sorry Karen you`re easily in the one percent you so despise. Wonder how quickly she will exit Illinois once retirement income is taxed. Cause you know its for the kids don’t you know.
Sounds like being “one of the middle class” pays pretty well. I assume she’s eligible for both union official and CPS pensions when she retires? And what’s the current pension for hubby?