-- 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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Most of that is OK. Having worked in H/R I’ve seen so many employers just screw over employees with no fear. I don’t see anything unreasonable in it. If you know what to do and do it, you’ll be fine.
Some of the most business unfriendly laws in the state.
Bad news for the job creators, great news for the $$Illinois Trial Lawyers Assoc$$!!,….Just the way the machine likes it