Every household in Chicago is on the hook for $42k for unfunded city worker pensions (public school)

[Guineas]

Chicago's unfunded public service workers pension liability is $44.8 billion. That translates to an unfunded city pension liability of $41,966 for every Chicago household.

Link: Forbes: Municipal Pension Tabs

We're a city where police officers retire before age 50 and receive each year $90k of untaxed pensions for the remaining 30 years of their lives. Our high taxes are not going to much needed infrastructure, but instead to ensure that city workers can retire in Florida.

This is the legacy that Mayor Daley and the Democrats in the city have wrought us. Remember this during the election.

Public service unions should be banned like they were before the 1980s (even FDR despised the notion of government unions). They are bargaining against the taxpayers and their counter parties are OTHER public workers (politicians). It's a recipe for corruption and theft from taxpayers.

[ofcjim40]

First off, your figures are completely wrong and untrue. Where did you get these numbers for what Cops get in a pension because it is not true. The reason the pensions are so underfunded is because the City is run like garbage and instead of the money going to where it should, it is spent on special interest programs, spent on connected contractors and companies. Chicago has much LOWER taxes than just about every Suburb. You know where the majority of tax money goes? To the disaster that is the Chicago Public School system. You can't blame the Police, Fire or other city workers for this. First off, you can't retire before 50 and collect your pension. 20 years at age 50 gives you 50%, and that would be on about a $70,000 a year salary, so in actuality it's around $35,000 a year, hardly a kings ransom. The max you can get is 75% after 30 years of service. Public safety also pays into their pension like someone does into a 401K, but pay in at an even higher rate. So how about you get some facts straight and blame who deserves to be blamed. The blame is not on the rank and file workers trying to put food on the table.

[Avengerfire]

Originally Posted by Guineas

...We're a city where police officers retire before age 50 and receive each year $90k of untaxed pensions for the remaining 30 years of their lives...

Where are you getting these numbers from?

[Muppet123]

Glenn Beck?

[ofcjim40]

It is a well known fact Daley does not care about the City workers. Also, because of corruption on Daley's part is another reason the pensions are underfunded, because he is taking care of his family with taxpayers money.

Daley nephew: Chicago police rip their pension fund for investing in business tied to Robert Vanecko, nephew of Mayor Richard Daley - Chicago Tribune

[aragx6]

Originally Posted by Guineas

Chicago's unfunded public service workers pension liability is $44.8 billion. That translates to an unfunded city pension liability of $41,966 for every Chicago household.

Link: Forbes: Municipal Pension Tabs

We're a city where police officers retire before age 50 and receive each year $90k of untaxed pensions for the remaining 30 years of their lives. Our high taxes are not going to much needed infrastructure, but instead to ensure that city workers can retire in Florida.

This is the legacy that Mayor Daley and the Democrats in the city have wrought us. Remember this during the election.

Public service unions should be banned like they were before the 1980s (even FDR despised the notion of government unions). They are bargaining against the taxpayers and their counter parties are OTHER public workers (politicians). It's a recipe for corruption and theft from taxpayers.

Can I pull a Drover and say "Shaddup!"?