-- 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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Confused, does scheduling ordinance cover city workers? If yes, they would be the primary beneficiaries. Or do city workers already have all those work rules built into thier phone book thick contracts?
It does not cover them, and I don’t know if it’s already in their contracts.
Will unions be exempt from this regulation like they are from the minimum wage laws in Chicago?
The ordinance states this “may be waived in a bona fide collective bargaining agreement.” In other words, your right to a “fair workweek” can be taken away from you by your union.
The unions are the main ones behinde law, especilly seiu. Wonder how much lawyers groups lobbied for it– theyre the other big winner?