Saturday, September 7, 2019

Public and Private Pensions Explained


A thoughtful analysis of the problem.

23 comments:

  1. Anonymous9/07/2019

    Chicago and Cook County will ge filing for bankruptcy in 2023. All pensions will be cut in half. After that Illinois will tax them.

    ReplyDelete
    Replies
    1. Anonymous9/08/2019

      Open up pensions to all IL residents everyone contributes 20% plus IL needs to start it's own bank like North Dakota can lend itself money.

      Delete
  2. Anonymous9/07/2019

    Now I am going away to do my breakfast, later than having my breakfast coming yet again to
    read other news.

    ReplyDelete
  3. Anonymous9/08/2019

    The looting of the pensions funds continues to this day. Every politicians family has (or is working on) a second government pension. Just ask them.

    ReplyDelete
  4. Anonymous9/08/2019

    Someone in a crystal palace decided working people have it to good don't deserve to retire we can't keep paying people who don't do any work! I have uncles who retired from GM and Steel Mills at 49 pension company paid health insurance in retirement now I get to work until I die with my 401scam.

    ReplyDelete
    Replies
    1. Anonymous9/09/2019

      Sadly "uncles who retired from GM and Steel Mills at 49 "

      Corrected this person meant at 49 with disability.
      Only Illinois gov't workers get their pension before age 60.

      Delete
    2. Anonymous9/12/2019

      No hired at 19 did 30yrs retired at 49 with paid health insurance through retirement!

      Delete
  5. Anonymous9/08/2019

    Don't worry, everything will eventually work out. In the meantime, Lightfoot hasn't a clue. (neither does Preckwinkle). The city is going to crash and burn. All pensions will be in for a major haircut during the bankruptcy. Infrastructure will go to F---. We will be more like Detroit than Detroit. And then when the incompetent leaders have moved on, when the pensioners have finally died out, when it can't get any worse, a renaissance will begin. It may be noticeable by 2045 and will be in full bloom by 2060.

    It will be brought by people with an ethical viewpoint on life. Public service will be just that, service for a few years and then move on. Career government employees will be limited to police / fire, if they aren't contracted out. Teachers will be replaced by robots etc. Anyone with multiple pensions will be prosecuted.

    Meanwhile, get ready for the ride of your life.

    ReplyDelete
    Replies
    1. Anonymous9/08/2019

      They will never do away with teachers.

      Delete
  6. Anonymous9/08/2019

    ADVICE TO CITY EMPLOYEES, cook county too, DON'T RETIRE. TRY TO HANG ON UNTIL THE BANKRUPTCY HAS OCCURRED. YOU WILL FARE MUCH BETTER.

    ReplyDelete
    Replies
    1. Anonymous9/08/2019

      Yes

      Delete
    2. The better thing would be to petition for a forensic audit, file a complaint with the IG's office, file a complaint with the FBI, DOJ and SEC. Then tell the everybody you meet as you walking down the street... these people are crooks-- arrest the fraudsters. And arrest all who facilitated this deception.

      Delete
  7. Anonymous9/08/2019

    You’re telling me that now. What if I already retired?

    ReplyDelete
    Replies
    1. Anonymous9/08/2019

      Right wing goolag, trying to stir shit up. He thinks because you were a public employee, you never lifted a finger. He’s an a—hole.

      What I will say is this: all of you folks who lean to the right, your fellow right leaders are the ones who want Chicago to declare bankruptcy, so that your retirement is worth pennies on the dollar.

      Be very careful where your vote is concerned. Lightfoot and all of her SJWs are all smoldering heaps of garbage, but at the very least, at least they want to protect the pensions.

      Ted Dambrowski and all of the folks on the right want us to file bankruptcy, yesterday.

      Delete
    2. Anonymous9/08/2019

      Start looking for a job you are going back to work!

      Delete
  8. Anonymous9/08/2019

    Good idea. Makes perfect sense.

    ReplyDelete
    Replies
    1. Anonymous9/09/2019

      Bad idea. Makes no sense.

      Delete
  9. Anonymous9/09/2019

    City employees don't work much, that's the problem. 4 guys to change light bulb in street light and 2 bulbs a day.

    ReplyDelete
    Replies
    1. Anonymous9/09/2019

      Everyone’s a critic until they actually get inside and see what the hell is going on.

      Say, can we come to your job and see what you do all day?

      Delete
  10. Anonymous9/09/2019

    I used to drive 70-100 miles a day in the city for a privste sector company. What I think there are to many of in the city gov't(payroll) is, the never ending white SUVs with a city department name on the side. Each one has orange strobe lights on the roof. All these vehicles do is drive around the city and go check out what is on the lunch menu at expensive places like Tuscany on Taylor, Franco's on 31st.

    Also why is it the only people these days who have summer homes in Michigan are Millionaires and City workers. Because city workers make a whole lot more than equivilant private sector jobs.

    ReplyDelete
    Replies
    1. Anonymous9/10/2019

      Maybe the city workers had property dating back in their families, when land in Michigan was cheap. Perhaps those same city workers don’t have new construction homes in Michigan, but rather, 4 bed 1 bath shacks that haven’t been updated in a hundred years.

      Maybe they’re good savers. Maybe you aren’t. Maybe if you were a better saver, you wouldn’t be on the 19th Ward blog bitching that people have some aspects of their lives in better order than you.

      I’m not a city worker, but I have worked for the city in the past and what I can tell you is a lot of people do bust their asses to get what’s theirs. They also get money taken out for their insurance and pensions and don’t get SS.

      So quit your whining or go fill out an application to get on the “gravy train” you allege exists.

      Delete
    2. Anonymous9/12/2019

      Really who's going to fudge the list for me? How do all these politicians kids and Dept. Bosses' kids get hired then promoted?

      Delete
  11. Anonymous10/02/2019

    I was able to find good advice from your blog articles.

    ReplyDelete