tag:blogger.com,1999:blog-3972382144120426476.post6868230110352453368..comments2024-03-28T22:15:17.067-05:00Comments on Every goddamn day: 03/29/24: Trying to defuse the pension time bombNeil Steinberghttp://www.blogger.com/profile/11468057838260476480noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3972382144120426476.post-3987980967929706012017-04-08T06:23:01.205-05:002017-04-08T06:23:01.205-05:00Wise words from wirepoint.Wise words from wirepoint.Privatehttps://www.blogger.com/profile/10757585399827295128noreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-59191360275336025902017-04-08T06:21:59.000-05:002017-04-08T06:21:59.000-05:00That's not what unions were suppose to be abou...That's not what unions were suppose to be about, originally.Privatehttps://www.blogger.com/profile/10757585399827295128noreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-66981304098225685922017-04-08T06:21:42.164-05:002017-04-08T06:21:42.164-05:00I'm usually pro Union but the city related one...I'm usually pro Union but the city related ones area a scalpel and unrealistic.Privatehttps://www.blogger.com/profile/10757585399827295128noreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-9977916448649445652017-04-08T06:20:00.336-05:002017-04-08T06:20:00.336-05:00About the flood article: no it isn't just Amer...About the flood article: no it isn't just Americans that ignore problems.Privatehttps://www.blogger.com/profile/10757585399827295128noreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-69369698018634190502014-04-10T09:45:33.203-05:002014-04-10T09:45:33.203-05:00What's bad is that the recent pension bills ar...What's bad is that the recent pension bills are portrayed by the unions as draconian cuts, whereas they barely touched the benefit. The unions' talk of shared sacrifice never extends to them. The reporting often favors the union with misleading figures like "the average pension" (deceptively low, because it includes all pensions, even those of short-timers; the figure for career retirees should always accompany it) and portrayals of pensioners living in supposed poverty. Recently, the Tribune described a 61-year-old who has been collecting a $30,000 pension for 10 years and who claimed, with no clarification in the article, that the city never put anything into her pension. First of all, if you retire at 51, you should not expect to be living the high life. Second, by now, in addition to whatever the city put in the first place, which it did even if it was short of what it should have, the city is paying most if not all of her pension, as well as the $900 cost of living increase she gets each year. Just accurately quoting someone does not equal accurate reporting; ridiculously untrue claims should be clarified.<br />Also love when the union says not getting Social Security. The pension benefit, even as "cut," is WAY better than Social Security, with a lower retirement age. Most of us would love to trade.DeJordynoreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-62153977772744208832014-04-10T00:01:43.997-05:002014-04-10T00:01:43.997-05:00The Indiana state line is within eyesight. Two ai...The Indiana state line is within eyesight. Two airports will take you out of town forever, when the CTA isn't crashing a train into one. Long live the pensioners! May the workers work just one day longer until they drop dead while the pensioners laugh.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-76526952413472999672014-04-09T14:30:55.344-05:002014-04-09T14:30:55.344-05:00Let's remember what "Become Detroit"...Let's remember what "Become Detroit" really means: it doesn't mean the whole metro area becomes a slum, it means the *city* becomes a slum and the Metro area continues with the very substantial amount of business in the burbs. How many tens of millions of dollars will CBOT pay before they say "you know, we could move to Rosemont and not lose that much business." You're betting an awful lot on the power of inertia here. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-85909896429115027122014-04-09T10:50:38.443-05:002014-04-09T10:50:38.443-05:00I think the financial transaction tax or other tax...I think the financial transaction tax or other tax increases could be sold to the the business community with a specific major concession that Karen Lewis and others want to ignore. The CPS and overall pension operations needs to be run similar to a private business (i.e. administrative streamlining, merit payroll and performance accountability). In other words, the CPS and CTU need to stop pointing fingers at each other and actually work together to get results.ChrisHnoreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-24182895584567255002014-04-09T09:26:28.665-05:002014-04-09T09:26:28.665-05:00Years ago pension benefits were negotiated that re...Years ago pension benefits were negotiated that required everything to go just right. Investment returns, employer contribution and employee mortality had to happen as expected in order for the benefits to be paid. The fact is none of those things came to be. The first decade of the 21st century had two market meltdowns, governments have regularly short-funded the plans and retirees are living longer than expected. Politicians and union leaders share responsibility for agreeing to a pension plan that had such a small probability of reaching its targets.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-75038419328597717322014-04-09T08:20:49.314-05:002014-04-09T08:20:49.314-05:00Easy to say "Rich Daly gave away the ranch,&q...Easy to say "Rich Daly gave away the ranch," but he and all the other pols, of both parties, did it on our behalf. Anybody remember what happened to Dawn Clark Netch's political aspirationas when she tried to run on the notion of raising taxes to cover expenses.<br /><br />Illinois taxes are indeed regressive and property taxes, particularly in gentrifying neigborhoods, can meet that definition, but I think the notion that people will sell out and leave in large numbers because of them is exaggerated. Where will they go. I pay taxes on property in Wisconsin, which has been in the news because of GOP tax-cutting. Move there if you want to back the Packers or root for the Badgers, Brewers and Bucks, but don't expect any savings at tax time.Tomhttps://www.blogger.com/profile/09641357239788323783noreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-21572131263918264432014-04-09T07:44:17.948-05:002014-04-09T07:44:17.948-05:00Great piece, Mr. Steinberg. But as this progresses...Great piece, Mr. Steinberg. But as this progresses please don't suggest that the state legislation is any model for the city by saying it fixed the state pensions, as you did once before. The unfunded state liability was cut by less than 20%. Your old media colleagues continue to underestimate how bad this is, which is part of our problem.WirePointshttp://www.wirepoints.comnoreply@blogger.comtag:blogger.com,1999:blog-3972382144120426476.post-3165924805945464342014-04-09T00:08:46.094-05:002014-04-09T00:08:46.094-05:00Public pensions must end & all government empl...Public pensions must end & all government employees put on Social Security.<br />Not only will it cost the taxpayers less, but it will put an end to lifetime employment with the government.<br />Instead, if an employee isn't any good, if they get fired, their Social Security money isn't lost as pension credits, other than what they themselves put in aren't lost.<br /><br />We can't afford you any more!<br />Because of that, when someone is an incompetent employee in one dept., they get a transfer to another one so they keep their pension building up & up, ultimately triple that of Social Security, but every penny of it came out of the taxpayers, none of it from the employee, as their pay also comes from us!<br /><br />So give them a choice, agree to liquidation of the pension plans or half of every department will be laid off! And carry through on that threat!Anonymoushttps://www.blogger.com/profile/13978194163495589398noreply@blogger.com