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.
Instead of a flat $6,500 grant, this should be a matching grant so that it encourages these social workers to pay down their student loan debt. The sooner that debt is paid, the sooner another matching grant can be offered to a different social worker.
“includes social workers employed by schools across the state and social workers who work for a municipality”. Very select group entitled to this, wonder why.