Mugging in Milwaukee
Supt. Thornton just fired 519 city teachers. Now he is threatening massive lay-offs unless the 5,600 members of the Milwaukee Teachers' Education Association would agree to pay $20 million more into their own pension fund. Of course there is no guarantee that a pension give-back, once surrendered, would prevent more firings.
MTEA President Bob Peterson released a statement Wednesday night defending the union's refusal to make pension concessions. He also criticized Gov. Scott Walker and the Legislature's Republican leadership.
Instead of creating jobs, Peterson said,
"Gov. Walker and his Republican supporters have forced the elimination of hundreds of family-sustaining jobs in Milwaukee" through layoffs. -- JS Online
No pension give-back for Chicago mayor
During the four decades he held public office — as mayor of Chicago, Cook County state’s attorney and Illinois state senator — Richard M. Daley paid a total of $393,679 into his government pension plans.
He’ll get all of it back within 26 months. Daley has begun collecting his pension, which, for now, comes to $183,779 a year. Next year, he’ll start getting automatic cost-of-living raises that will boost his pension by 3 percent every year. Daley, 69, chose to retire under the state’s most lucrative government pension plan — the one that Illinois legislators set up for themselves. It provides Daley with a pension equal to 85 percent of his final mayoral salary of $216,210. The state pays two-thirds of his pension. The city — which also is providing the former mayor and his wife with two limos and 5 bodyguards for life — picks up the rest. -- Sun-Times
He’ll get all of it back within 26 months. Daley has begun collecting his pension, which, for now, comes to $183,779 a year. Next year, he’ll start getting automatic cost-of-living raises that will boost his pension by 3 percent every year. Daley, 69, chose to retire under the state’s most lucrative government pension plan — the one that Illinois legislators set up for themselves. It provides Daley with a pension equal to 85 percent of his final mayoral salary of $216,210. The state pays two-thirds of his pension. The city — which also is providing the former mayor and his wife with two limos and 5 bodyguards for life — picks up the rest. -- Sun-Times
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