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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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SB 1784 is a bad union power grab. For example, it mandates that government employers provide the home address, and any personal email or home phone or cell numbers on file, of union covered employees, even if the employee opts out of the union, unless otherwise mutually agreed. Another gem, the public cannot learn which employees belong to the union and which do not, or the amount of dues paid or not paid by an employee. The union knows, the employer knows, but the voter and taxpayer at large does not. And the public can’t see emails between the union… Read more »
This is payback for Janus. It will be overturned by the 7th Circuit as unreasonably alienating the rights of union members to not pay dues.
The gang in Springfield seems to think state employees work for the union, not the state.