"Conventional wisdom says pension funds have been inadequately funded. In a seminal 2018 report, however, the conservative economic research group Wirepoints documented the real culprit: from 1987 to 2016, the Illinois General Assembly increased pension benefits an astonishing 1,061 percent, while state revenues grew 176 percent and median household income 127 percent."
Forrest Claypool is among the less than one percent of pensioners willing to admit publicly that pensions are too high, so we should applaud him for that. However, in reading his bio, he now has some high level positions in the private sector, so his pension isn’t as important to him as other pensioners. I doubt he would be outspoken against huge pensions if he were still a bureaucrat.
Daniel Sheehan
1 year ago
What’s Claypool’s public pension for increasing costs for CTA & Park District when he was in charge& & awarding inside vendors contracts to Daley’s pals?
There is a trifecta of world class responsibility here. In addition to the ridiculous and unaffordable benefits, the pension funds have indeed been inadequately funded and poorly managed.
A very succinct and to the point 100% dead on balls accurate editorial written by that conservative Forrest Claypool…wait…he’s a democrat. Hmmm, would love to see what the carnival barkers Ralph Martire and JB the Hutt have to say about this!
Exactly, dem machine may have a tough go when increasing #s of their own party are admitting the pension math is impossible. And certainly inequitable.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Forrest Claypool is among the less than one percent of pensioners willing to admit publicly that pensions are too high, so we should applaud him for that. However, in reading his bio, he now has some high level positions in the private sector, so his pension isn’t as important to him as other pensioners. I doubt he would be outspoken against huge pensions if he were still a bureaucrat.
What’s Claypool’s public pension for increasing costs for CTA & Park District when he was in charge& & awarding inside vendors contracts to Daley’s pals?
Here is a good article on pensions in the country and Illinois /Chicago.
https://www.naturalnews.com/2024-12-05-us-pension-systems-verge-of-debt-collapse.html
https://equable.org/pension-debt-paralysis-persists/
There is a trifecta of world class responsibility here. In addition to the ridiculous and unaffordable benefits, the pension funds have indeed been inadequately funded and poorly managed.
First line should read irresponsibility.
A very succinct and to the point 100% dead on balls accurate editorial written by that conservative Forrest Claypool…wait…he’s a democrat. Hmmm, would love to see what the carnival barkers Ralph Martire and JB the Hutt have to say about this!
Exactly, dem machine may have a tough go when increasing #s of their own party are admitting the pension math is impossible. And certainly inequitable.
So he can increase his charitable contributions and gather philanthropic accolades! Sic semper hypocrites. Hollywood beckons.