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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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They didn’t buy electric school buses? Life in prison!
He won’t be tried until after Lawerence Wyllie from the Lincoln Way district in SW burbs. Larry still collects over $360,000 plus in pension and has pushed back his criminal trial for around 5 YEARS. King Mike is going to play the same card and the Judicial system in this state will play along. They are the protected class in Illinois
I wonder how much of this goes on in other districts? Honestly, $3 million dollars of fraudulent wages, pizza-n-food for teachers, ‘consulting’ this & ‘construction’ that….. Transparently unallowable uses of taxpayer dollars, this aside from the fact that it’s been going on for three years and much of it was criminal. Took three years to uncover it? What a hoot – ISBE was right on top of this one. Just as, I’m sure, it’s right on top of all the other hundreds of millions of taxpayer funded grant dollars that are shoveled out to school districts which can only manage… Read more »