-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
That’s my old district, the taxes in mokena are ridiculous. To think I was paying for this craps the whole time I lived there.
If he’s hired Dan Webb he’s worried about something.
and $.
The 6 count indictment and the US DOJ PR: http://www.edgarcountywatchdogs.com/2017/09/former-lincoln-way-superintendent-lawrence-wyllie-indicted-by-federal-grand-jury
The top TRS pension belongs to person named in the indictment, Lawrence Wyllie, at $321,444 per the Better Government Association pension database.
http://www.bettergov.org/pension-database?FirstName=&LastName=&Agency=Downstate%2FSuburban+Teachers+%28TRS%29&PensionAmount%5Bmin%5D=0&PensionAmount%5Bmax%5D=1000000&YearsServed%5Bmin%5D=0&YearsServed%5Bmax%5D=100&DataYear=2017