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.
Good luck with pension reform in Taxistan.
Hard to dial back entitlements once they are granted.
Look at the pressure now to get rid of Tier 2 pensions.
Glad I voted with my feet over 20 years ago and left.
My bank account has an extra $200K in it!!