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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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Home – Illinois Public Pensions Database
Expecting pay to match performance? In the public school system? That’s funny.
Local school districts, 1 high school with superintendent. Another district, 2 elementary schools with superintendent. Another with 4 elementary schools with superintendent. Another with 3 elementary schools with superintendent. Another with 1 elementary school with superintendent. All elementary schools feed students to the high school yet there are 4 elementary districts and 1 high school district. Superintendents, assistant superintendent, office staff, pensions, health care, salaries. Waste of money.
Looking at the list in the article, these SD boards are fools. To pay that kind of money to get so little is pathetic. $300K and up for that job is ridiculous. 50% of the districts have 2 buildings or less…come on… Time for the SD Boards to grow a pair and just say no.