-- 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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Taking your year off for “disability” is a time honored union benefit, use it or you lose it. Many Chicago cops take it a few years before retiring at 50 to Florida. My former brother in law a Chicago cop took his, “his back went out” he said. As he was helping another family member move furniture! A year off, full pay, and he still managed to do his weightlifting program in the basement. There are plenty of doctors who will sign the paperwork.
Ive been complaining to st & trib writers about city wprker absenteeism, begging them to write about for ages..whats most egregious, if your in any city dept you can claim & get paid for a ton of family med leave act days and turn around and work a ton of ot,,and majically claim your dept–from cps to cpd is understaffed.