-- 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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Elk Grove Township Elementary District 59 (Comm Cons SD 59) and a special education district, Northwest Suburban Special Education Organization District 805 (NSSEO), concocted a questionable deal to evade Comm Cons SD 59 having to pay TRS a penalty for exceeding the 6% max annual pay hike threshold for outgoing Comm Cons SD 59 Superintendent Fessler. Rather than paying the penalty to TRS, Comm Cons SD 59 would pay the amount to NSSEO for the following purported reason. “The payment shall be made to the Northwest Suburban Special Education Organization (‘NSSEO’) to facilitate the employment of the Superintendent by NSSEO for… Read more »
I just canceled my tribune- Do not even know the paper i used to.
It’s become a liberal mouth piece with Darleen, Eric etc.
Good luck tribune- sorry to see you die.