Note to readers re: Ukraine
May 5, 2026
No Comments
Everybody needs a side hustle these days, and mine is Ukraine.
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Wirepoints’ Mark Glennon on AM560’s Morning Answer – Chicago’s struggling commercial real estate and more
April 22, 2026
5 Comments
Summary and audio linked here.
Audio and summary Illinois bill would override local law to allow homeless living in all public parks – Wirepoints
April 14, 2026
35 Comments
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
2 Comments
Summary and audio linked here.
Offering a lump sum option to Tier One pensioners would quickly result in the plan bucket being empty. Watch solidarity crumble as people rush to the exits. I bet the system could offer lump sums at a 25% discount from the present value of the pension annuity, and people would still rush to the exits. In fact, the system should put out an offer such as “how low will you go” and cash out those who are willing to take the biggest haircut. That’s the way to reel in that can down the road.
And actuaries I’ve talked to ridicule the idea because the first takers would be people with health issues. When they cash out and you take them out of the risk pool, that destroys the actuarial basis for the remaining pool
When Tier 2 has neutered pensions in Illinois below the benefit level of Social Security….and it has… the call for new DB plans is piling on a dead horse. Ive been saying this, here on wirepoints, for years. Unless ya honestly want to help public labor obtain portability over their retirement, at a higher cost to taxpayers. DB plans will only add costs and not save. This portability feature was oft cited for a reason to switch to DB plans…still is… but now, FINALLY, when its realized this DB portability would only help public labor, and would hurt the States… Read more »
Mark: That’s a remarkable way to state the disaster, “DB pensions for govt ees are opaque, easily corrupted and incompatible with an informed democracy”.
Brilliant….. I’ll remember that !
Cheers “PF” brother !
Taxpayers should expect much more from our elected officials. Sadly we end up with very little to solve the really big problems.