-- 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.
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$96K starting pension? He’s a lightweight.
Agreed. No stock options or 401k match in government jobs. Low salaries as well. I wouldn’t work one of those jobs unless I was getting a pension in the 150k range. Others must feel the same way otherwise people would be lining up to work government jobs. It’s just not that lucrative.
He’s old lady Anne will make up for Eddie’s low pension.