Nice Pension
Looks like someone is finally doing a decent bit of reporting over at the Tribune instead of being Rahm's, Madigan's and Shortshank's bitches:
- When Chicago aldermen floated a proposal in 1987 to boost their city pensions dramatically, Mayor Harold Washington's administration dismissed it as an arrogant ploy that lacked even a cursory cost analysis.
Three years later, the proposal still didn't have a price tag. But records show that the new mayor,Richard M. Daley, helped push it through the state Legislature anyway.
Now a Tribune/WGN-TV investigation reveals how much those lucrative pensions could end up costing taxpayers.
Wait....so it isn't the teachers, firefighters, cops and other city workers sucking the budgets dry?
- An analysis of pension fund documents for 21 aldermen who retired under the plan shows they are in line to receive nearly $58 million during their expected lifetimes, though contributions and assumed investment returns are predicted to cover just $19 million, or a third of that sum.
Awfully convenient that they get to vote on their own golden parachutes. Go read it all
Labels: pension
posted by SCC at 12:01 AM
61 Comments:
Bastard hypocrites talk about us. This shit goes on all over the state. Inflated pensions for the selected few. When all of the pensions fall we will know who to blame. Problem is it will be too late to save our own pensions.
I put my damn life on the line everyday in the wild wild west and the aldermen get to receive a sweet pension because RMD helped them along. That is a load of crap. They work a part time job and get paid over a 100k a year. Does anyone see something wrong with this????
This entire democracy here is running azz backwards!!
I mean are not the people suppose to tell the alderman what services that they need and want and then the aldermen push it up for a vote and tell the mayor what the people want/need?
But no. Instead we have the hizz royal highness dictating we're gonna do this and that and half the things don't even represent the peoples interest. That's not a democracy.
isn't often that the person who yells fire, is the one who set it?
Same with the pensions. Its merely a distraction. If they complain about others milking the pension funds, it deflects from the ones who are really in fact doing the milking.
If I go read it all. I'll just get more aggravated than I already am. Keep voting democratic, it's working so well. Fucking thieves.
Good for them. If we can't get it, someone else should. I hope we had tried harder to get our piece of the pie...
R e v o l u t I o n ! ! !
You know, they've really found their balls now that Daley has left. Well, not really. But they are finally, after 20 years of theft, looking at it.
Better late than never you bunch of Nancies. Now let's look at how the media in this town carries the water for corrupt Chicago politicians. No? I didn't think so, Sally.
only in chicago fuck ed burke
What do you get if you feed a bull?
Why do we need 50 thieves anyways? All we need is one alderman. They all vote yes to the mayor anyways. 23rd ward Zalewski is a perfect example of being aCity Hall zombie.
This is great, If you served in the military you can only buy two years of pension. But if you serve as an alderman you can buy as many years of pension as you can afford.
And they keep saying the Police and Fire pension is draining the funds..... Are they Crazy or are they hoping no one will see they are the one draining the funds
The papers keep questioning "why" most of the Aldermen voted for whatever Daley wanted or Rahm wants---money is always the answer.
So many of these guys are pigs. The Burkes would have more than enough dough between their jobs and tenue in the jobs but he is the head oinker of City Council.
Why are these people still in office over outright theft?!
Shoplifters get more time in jail over stealing a bottle of liquor than the Aldermans stealing the taxpayers blind for a part time job!
Da Pelon
Similar to all other pensions, Gov. Quinn we need pension reform for these pensions!
City of Chicago was better with Jayne Byrne and Harold Washington
Obvious Mayor Washington had the public good in mind when he trashed this proposal. Of course greedy subhuman privileged conniving fuckhead Daley used it as a carrot to get things he wanted from spineless self serving Aldercreatures. And now these two faced corrupt bastard politicians spew their venom at us working folks and want our pensions cut. FUCKING LOW LIFE HYPOCRITES!!!
AND can't forget about those illustrious "representatives of the people" in the Illinois House and Senate, as well as US Congress, who voted sweet medical and pension benefits for themselves, while wringing their hands over the cost of coverage for those who voted them into power. Now, must vote all of them out of office in November!
Just when we thought our Brainiac Aldercreatures would take a break from taxing the living shit out of us they are back for MORE! Alderfool Cardenas wants to place a "Sugar" tax on all sugary soda drinks sold in the city. 1 cent per ounce is being floated around. So a can of soda will cost you an extra 12 cents to purchase at the store. As much as 15 to 35 cents is being looked at. This would also apply to all fast food outlest as well. If spineless Cardenas brought up this measure you know the Racoon directed him to do so. Not one of our city fathers (mothers) have ever had an original thought on their own. This comes at a good time when we are just finding out how Daley stuck it up our poor assholes again by giving these Alderfools lavish pensions at our expense. And can Crook County Prez Prickwankle be far behind if this measure passes. No doubt.
Kudos to channel 9 news for saying, "On the other hand, Chicago Police have to work full-time 29yrs to pull down only a 75% pension."
As I recall, and I have some inside info on this, FOP and the supervisors unions wanted to increase the minimum payout that was given to widows . Some widows were only getting a few hundred a month. Madigan would not let the legislation go through in Springfield unless there was support for " The Omnibus Pension Bill". This bill boosted pensions for the alderman and added other board members to pensions around the Chicago area. I think the Tribune would be surprised if they looked into boards and commissions throughout govt. The political class ssure know how to take care of themselves. They held a small increase for our widows hostage until the unions supported their Omnibus bill. This was in the early 90's.Now, with the supposed pension reform talk, I hear nothing about reforming the pensions of the political class. Part time board and commission members should not be getting pensions. And, If I am not mistaken, health care is included for these blessed people.
Remember this during the month of May when, so much is asked of so few.
Maybe its time to try and re petition the city, to reduce the size of the city council by 50%...is it anyway we can get this on a voters referendum.....
I was going to read that article but at the time I needed toilet paper.
I am still trying to wrap my head around how aldermen can grant themselves this lucrative pension deal but refuse to do what their job requires. This law should be repealed immediately. WTF, these assholes do not take bullets, teach kids or save lives.
Cant blame the aldermen, we re-elect the same a--holes evry few years! I would stick it to the lame sheeple of Chicago too...and watch, there all gonna get re-elected...
Anonymous said...
Why do we need 50 thieves anyways? All we need is one alderman. They all vote yes to the mayor anyways. 23rd ward Zalewski is a perfect example of being aCity Hall zombie.
5/01/2012 06:42:00 AM
i ran into Zalewski just the other night at the casino. he was walking out of the Hih Limits room. must be nice?
Good for them. If we can't get it, someone else should. I hope we had tried harder to get our piece of the pie...
5/01/2012 02:21:00 AM
Are you daft? I hope you had tried harder to find a working piece of your brain.
The 20 year pension corruption cicada finally popped up out of the ground.
Was it around 1990-92 when our FOP allowed the City, thru negotiation, to forgo their contributions?
Anyway, it was a Daley appointee, et al, that pushed thru the aldermans pension sweetener. The very reason we don't need the City to have a majority on our Pension Board.
And that being said, we still haven't learned how DV Urban Reality (Davis-Vanecko) got their hands into our pension funds. "Mayor Daley's nephew Robert Vanecko had no experience in pension fund management before securing deals to invest millions of dollars of city workers' retirement money."
Did anyone notice how Davis-Rezko benefitted from the Walsh (Daley) Construction fraud? Walsh quickly settled out of court...for financial reasons. Hmmm.
When they publish part two of this investigation, maybe the public will truly see The Daley Legacy.
Save your Pension - Stay Informed.
This makes me murderously angry. And no that's not a threat, but if everyone of those thieves dropped dead of a heart attack it wouldn't bother me in the least. The frustration of being shit on by these assholes year after year is becoming too much. I swear, I'll beat the crap out of my kids if they ever say they want to be CPD!!!
Time for Alderman and all of City Hall to all be moved into a 401K system with no Pension, permanently!
Lead by example assholes!
Da Pelon
Years ago they would cut off the nose of corrupt politicians than sell their families to pay for their miss deeds. Why can't we just shoot them?
theives, theives, theives
Why don't cops and firefighters run for alderman? I can't think of people that are closer to the real city. I'd vote for them.
Now is the perfect time for one Alderman per police district. We have closed police districts and now it's time to call the mayor out on how many alderman we have and how many alderman are actually needed!
After 20 years as an aldercreature they are permitted to take 80% of their salery as pension.
I loved the pat stance numerous AlderHogs interviewed took- zero responsibility for a pension policy that was "voted in before they took office". Had nothing whatsoever to do with them seeking election, then, right?
Thieving bastards!
How about Aldercreature Walter Burnett crying about all the hard work he does in his job. Huh? He says he puts in two 16 hour days a week and that includes a Saturday. Really. How much does that work out to for a Alderfools salary per year. You know this fuck doesn't do any work. He gets how much a year to hire staff (his relatives) to do his work. How many city jobs does he get to hand out? And being a lawyer how much money does he make off being who he is in the community. And how about that nice fat juicy pension Daley helped set up for you incompetent jerkoffs. Stop crying asshole and be happy your not just another moronic unemployed lawyer looking for work.
I can just picture fat ass Daley on the balcony of his brothers condo on Michigan Ave. jerking off on his Irish Inch laughing at us poor slob bastards paying for all his mistakes and greed. Follow the money trail on all these bogus pensions and you will find all of the same political players involved.
311 has replaced need for 50 alderman , 20 alderman with no pension and reduced pay
Do as I say, and not do as I do!
And tonight The Daley Pension!!!
Chicago's Aldercreatures
Never have so few done so little for so much.
hooray for me (alderman), and f@@k you.....and, by the way, did you (cops) work your whole lives, miss family gatherings, run down dark alleys late at night, chasing gang bangers, dope dealers, thugs with guns?.....and, your pension?
Death to all these fucking maggots.
Lead by example! Why not give every city employee the same benefit as aldermen, 80 % after 20 years and 3 %componded raise every year. How about an automatic pay raise every year, if it's good enough for the aldermen what about everyone else. The city police and fire get a max of 75 % after 29 years and no cost of living adjustment unless they are born before 1955. Every municipal worker and state worker should have the same pension, total equality be 80% or 75 %, with 30 years of service. The mayor needs to start in the city council, and lead by example. Don't expect the workers, be it teachers, streets and sanitation, police or fire to have reform before the politicians. Reform must start with the aldermen, the general assembly, and every elected official.
its up to you to protect the pension fund. the pols dont care as long as they get theirs. if the union dont do the job, dump them. if you sit back and think it will be taken care of, your in for a rude awakening. if you have a rep down state make sure hes on the ball. they like to put riders on different bills at the last minute. any change to the fund the membership should notified, before its passed, so it can be stopped.
Speaking of pensions. D/C Tobias is leaving at the end of May.
HAHAHA> >>>>"BROKEN WINDOWS?"
Chicago inspector probes mayor's bike-sharing pact
April 30, 2012
On a day when Mayor Rahm Emanuel rolled out proposed tough new ethics standards, his administration was targeted with an embarrassing complaint alleging it broke the law when it awarded a major contract.
Two firms that lost out in bidding for a city bicycle-sharing program contend that city taxpayers got a bad deal on the recently approved pact — perhaps because two top city transportation officials once worked for the firm that ended up getting the deal.
One of the two, Transportation Commissioner Gabe Klein, has previously admitted he once was a paid consultant for the winning firm, Alta Bicycle Share Inc., but he said he'd recused himself from the Chicago selection process.
****
Updated 6:30 p.m. Mr. Emanuel's office now is saying that, while Mr. Pomp does now work for Alta, he was only an unpaid intern with the city and was not involved in preparing bid documents.
But, when I asked Bike Chicago about it, they referred me to Mr. Pomp's Linked in page. On it, he says he "Drafted $20M Chicago Bike Share RFP (Request for Proposal) and financial model," and that he "developed strategic plan for a successful launch of Chicago Bike Share in 2012."
Read more: http://www.chicagobusiness.com/article/20120430/BLOGS02/120439966/chicago-inspector-probes-mayors-bike-sharing-pact#ixzz1tfyzkK5l
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Doh!!!
Well CPD if the law was broken we expect to see some arrest if for nothing else but to send the message to the crime communities that the laws matter. The law is the law. It is what it is. Just do your jobs.
And $20 million dollars for 3,000 bicycles. Such a deal !! They must be made out of gold. $6,666.66 dollars per bike by my calculation.
What an interesting number too?
However we can be fair and pull out $666 from the cost of each bike and put that money in the pool that will build the 300 solar powered kiosks which would still leave it at $6,000 per bike and $6,660 per kiosks.
I suggest that the mayor fund it with corporate donation money and leave the taxpayers healthcare, public pensions and mental health clinics and taxes alone.
Be a hero Rahm. Save us again. Tell us how it will not cost the taxpayer a dime and how we will save..
Anonymous said...
How about Aldercreature Walter Burnett crying about all the hard work he does in his job. Huh? He says he puts in two 16 hour days a week and that includes a Saturday. Really. How much does that work out to for a Alderfools salary per year. You know this fuck doesn't do any work. He gets how much a year to hire staff (his relatives) to do his work. How many city jobs does he get to hand out? And being a lawyer how much money does he make off being who he is in the community. And how about that nice fat juicy pension Daley helped set up for you incompetent jerkoffs. Stop crying asshole and be happy your not just another moronic unemployed lawyer looking for work.
5/01/2012 02:56:00 PM
Don't forget burnett was a former felon, he is jesse whits guy,they had it expunged he served time in prison and now he is like the rest "felons being discovered"
Sad just fucking sad. I read a story f how the Chinese would fill up pigs with 35 extra pounds of waste water. Those pigs are politicians .
According to WGN News, Rahm sent a letter to Madigan saying we have 2 options
1 triple the property taxes ..or
2 watch the pensions go broke within a decade
The 20 year pension corruption cicada finally popped up out of the ground.
Was it around 1990-92 when our FOP allowed the City, thru negotiation, to forgo their contributions?
Anyway, it was a Daley appointee, et al, that pushed thru the aldermans pension sweetener. The very reason we don't need the City to have a majority on our Pension Board.
And that being said, we still haven't learned how DV Urban Reality (Davis-Vanecko) got their hands into our pension funds. "Mayor Daley's nephew Robert Vanecko had no experience in pension fund management before securing deals to invest millions of dollars of city workers' retirement money."
Did anyone notice how Davis-Rezko benefitted from the Walsh (Daley) Construction fraud? Walsh quickly settled out of court...for financial reasons. Hmmm.
When they publish part two of this investigation, maybe the public will truly see The Daley Legacy.
Save your Pension - Stay Informed.
5/01/2012 11:06:00 AM
If I'm not mistaken, we were given the duty availabilty in exchange for the forgiveness on the deposits to our pension by FOP and for us forgoing raises on that contract. Now we may be losing that and the city still hasn't funded our pension. We will lose twice.
There was a sound bite from a reporter asking the former mayor what he missed about being mayor....he LAUGHED. It was that sickening, shrieking laugh we have all heard before. He then tried to recover with his trade mark stuttering babble and ended saying all he ever thought of in his twenty two years was Chicago. Twenty years from now, hopefully if integrity returns to reporting the news, all the corruption perpetrated by this thieving, little prick will see the light of day. Term limits for all these rotten, prick politicians.
Last honest mayor we had, Mayor Washington.
Speaking of pensions. D/C Tobias is leaving at the end of May.
5/01/2012 09:44:00 PM
Buh-bye! Which big jobs are open at the city/county/state? Bet he is headed to one of them. It's the Chicago way.
I'm a city dweller and city employee who has never voted for that studdering idiot ! However, for all of you who in the past voted for Daley over any other candidate who ran against him to save your job,your spouse job,etc. You get what you voted for....
I put my damn life on the line everyday in the wild wild west and the aldermen get to receive a sweet pension because RMD helped them along. That is a load of crap. They work a part time job and get paid over a 100k a year. Does anyone see something wrong with this????
==============
It's not like you were drafted. There are plenty of people just waiting for you to get disgusted enough to move on.
These guys always take care of themselves first.
just what would you expect?
Last honest mayor we had, Mayor Washington.
5/02/2012 02:37:00 AM
And, before him? Harold Washington was, not only, the last one, but he was the ONLY one, ever.
But it's our pensions( police, fire and teachers), that they all want control of to fix the budget....They're the ones who stopped paying into the fund, my deductions come out of my check every 2 weeks...
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