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.
Wow, One dude CIO was there for 30 years and was set to retire Jan 2024, but resigned in May of 2023 and was paid $160K in severance pay. If he quit… why pay anything but unused PTO. Doesn’t make any sense. But hey, its all graft, no oversite and no penalties. Government is such a scam.
The Executive Director class.
An inbreed apart.