They really know how to get things done, cant wait to see what they do next
http://www.chicagotribune.com/news/local/ct-met-pensions-legislation-watchdog-20110921,0,4724416.story
"All it took to give nearly two dozen labor leaders from Chicago a windfall worth millions was a few tweaks to a handful of sentences in the state's lengthy pension code.
The changes became law with no public debate among state legislators and, more importantly, no cost analysis.
Twenty years later, 23 retired union officials from Chicago stand to collect about $56 million from two ailing city pension funds thanks to the changes, a Tribune/WGN-TV investigation found.
Because the law bases the city pensions on the labor leaders' union salaries, they are reaping retirement benefits that far outstrip the modest salaries they made as city employees. On average, their pensions are nearly three times higher than what the typical retired city worker receives.
No one from either the state Legislature or city government will take credit for the law, which passed in 1991, and the process of drafting pension legislation in Springfield is so shrouded in secrecy that there's no way of knowing exactly whom to hold responsible.
The Tribune and WGN-TV found that Senate President John Cullerton was one of only 10 lawmakers on the committee that inserted the changes into a much larger bill. He's also the only one who is still in office.
Cullerton, who declined to be interviewed for this story, denied being involved in the changes and issued a statement that acknowledged the law now looks like a bad idea. . ."
more at the link
http://www.chicagotribune.com/news/local/ct-met-pensions-legislation-watchdog-20110921,0,4724416.story
"All it took to give nearly two dozen labor leaders from Chicago a windfall worth millions was a few tweaks to a handful of sentences in the state's lengthy pension code.
The changes became law with no public debate among state legislators and, more importantly, no cost analysis.
Twenty years later, 23 retired union officials from Chicago stand to collect about $56 million from two ailing city pension funds thanks to the changes, a Tribune/WGN-TV investigation found.
Because the law bases the city pensions on the labor leaders' union salaries, they are reaping retirement benefits that far outstrip the modest salaries they made as city employees. On average, their pensions are nearly three times higher than what the typical retired city worker receives.
No one from either the state Legislature or city government will take credit for the law, which passed in 1991, and the process of drafting pension legislation in Springfield is so shrouded in secrecy that there's no way of knowing exactly whom to hold responsible.
The Tribune and WGN-TV found that Senate President John Cullerton was one of only 10 lawmakers on the committee that inserted the changes into a much larger bill. He's also the only one who is still in office.
Cullerton, who declined to be interviewed for this story, denied being involved in the changes and issued a statement that acknowledged the law now looks like a bad idea. . ."
more at the link