Pension apocalypse? COVID-19 exposes long-running fragility of Illinois public pensions – Illinois Policy

"Ultimately, this flawed system design harms every resident in the state, including those relying on taxpayer-funded pensions for their retirement security. The financial burden it places on businesses and private sector workers is larger than they can bear."

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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