-- 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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As of 2021, Miroslava Mejia Krug, serving as the Chief Financial Officer (CFO) for Chicago Public Schools (CPS), had a reported base salary of $230,000. OpenPayrolls
In addition to her base pay, she received benefits totaling $42,927, bringing her total compensation to $272,927 for that year. This compensation is significantly higher than the average pay for school employees, reflecting the responsibilities associated with her executive role.
Add to the above–
Specific details about her benefits package, such as health insurance, retirement contributions, or other perks, are not publicly disclosed.
To CTU-there’s no money for your outrageous demands, especially with poor student performance.