Illinois unionist to get $1/2 million/year pension
Yeah, but it’s the military retirement system that needs reforming (MSNBC link);
A labor leader in Chicago is expected to receive pension payments of nearly $500,000 a year, while another could get about $438,000 a year, according to reports Wednesday.
The Chicago Tribune and WGN-TV, which obtained information about union pension benefits during a joint investigation, said at least eight union officials in Chicago were eligible for what were described as inflated city pensions on top of union pensions for the same period of employment.
Thanks to ROS for the link.
Category: Unions
While some jobs unions do are not pleasant and you really have to work long hours. . . being a labor “leader” and getting that kind of pension, is ridiculous. It’s also surprising that they can stomach the hypocrisy that they are complaining of companies doing exactly what they are doing, namely having guys get rich and fat off the workers.
Now please tell me this clown earned anywhere near that while he was working.
The way it works is this. A union guy works for state government and earns, say, $70,000/year at his job. But as a union officer, he earns, say, $150,000/year. At retirement, you would think that the guy’s state pension would be based upon his salary of $70,000. But you would be wrong! It is based upon his annual pay as a union officer. That’s corrupt, that’s wrong, and that’s the law–in Illinois anyway.
Considering most labor leaders have never actually labored, this report is awesome. The leadership adds value, or controls the goons, and can set its own price.
Gee, I wonder what the Flea Baggers think of this?
And, this is just the state perpetuating the corruption that is endemic to Illinois.
The Flee Baggers are going to try to seize control of the Wisconsin government, and haven’t ruled out further attempts prior to the 2012 elections.
Madison must have an AAA rating at a moneypit.