Pension Rip-Off Averted
Two weeks after former state Sen. William Marovitz settled federal insider-trading allegations last summer over his sale of Playboy stock, he gave up his work as an outside lawyer for two Chicago city pension funds — and applied for a city pension even though he wasn’t a city employee.
Marovitz — a lawyer and longtime Democratic Party leader in Illinois who is separated from his wife, former Playboy chief executive officer Christie Hefner — already gets a government pension of $102,480 a year for the 20 years he served as a state legislator and member of the Illinois Pollution Control Board.
He was seeking a second government pension — which would have paid an estimated $50,000 a year — for the 27 years he did legal work for two City Hall pension funds.
One problem: He was never a city employee, just a lawyer in private practice whose clients included two city pension funds.