-- 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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Miserable people spread misery.
Can Garza roll her CPS pension under the elected official rules of the MEABF pension system? I know the two systems have reciprocity. If so, she stands to make out like a bandit because you only need 20 years as an elected official to reach full vesting in MEABF. Maybe she makes a one-time payment to convert over?
Hey BD Lori, if you can’t get along with anybody, it’s probably you!