Editorial: Look out, taxpayers: When governments have more pensioners than employees

Chicago Tribune ^ | 7/15/2019

[george76]

For each active worker, four pensioners.

For 169 governmental bodies, the numbers are lopsided. In some cases hundreds — and in Chicago’s case, thousands — more retirees are drawing from a fund than active workers are paying into it. Even in a small suburban district such as the Arlington Heights Park District, 432 retirees are pulling from that district’s pension fund with only 103 active employees paying into it.

In the city of Chicago, according to the treasurer’s numbers, the gap is smaller in percentage terms, but in terms of the gap, more dramatic. Including Chicago Board of Education administrative retirees, the city’s four pension funds are supporting 47,592 retirees. But only 35,655 active employees — that’s minus the education administrators — are paying into the funds. That’s a difference of 11,937.

Why does it matter? It is further proof of the urgent need for elected officials at all levels of government to make substantive, serious and unpopular decisions to right-size pension benefits and lift the brick off taxpayers who, ultimately, are responsible for the unsustainable costs and debts in the funds.

...

The Metropolitan Water Reclamation District of Greater Chicago has 2,042 active employees and 2,408 pensioners. The village of Niles has 225 employees and 580 retirees. The village of Oak Park has 369 employees and 648 pension beneficiaries.

The village of Elmwood Park has 122 employees and 396 pensioners. The village of Oak Lawn has 295 employees and 553 retirees. The city of Blue Island has 170 employees and 404 beneficiaries.

Just the non-teaching personnel at Lemont-Bromberek Combined School District 113A: 132 employees, 486 retirees.

...

The numbers also illuminate one reason why pension funds in Illinois are so drained. Workers are allowed to retire and start collecting benefits at an early age compared with life expectancy rates.

[NohSpinZone]

This isn’t surprising whatsoever. We have the same problem with Social Security. Yeah, yeah, it’s not a ponzi scheme but it sure smells like it.

[Oldeconomybuyer]

What could go wrong here?

[P.O.E.]

Just move the decimal point over a few and voila!

/s

[preacher]

L8r

[Drango]

DUH.

Accounting rules need to change. there is zero chance politicians or unions will change.

[central_va]

The Feds will bail then out, what a scam.

[EasySt]

Government is a necessary evil, but if you don’t keep it sustainable, it ends in revolution.

It seems the Left is not in favor of sustainability, when it comes to government.

But, of course, that does fit nicely with the Cloward - Piven plan to overwhelm our government and society at all levels and remake it into a Socialist Utopia. (For the Elite.)

[shelterguy]

We have the same problem with Social Security. Yeah, yeah, it’s not a ponzi scheme but it sure smells like it.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I hear it all the time that we will run out of money for Social Security.

I never hear we will run out of money for welfare.

[kearnyirish2]

Social Security is a better-designed scheme - it is national, so you’re paying the bill if you live anywhere in the US. The problem with these municipal and state plans is that when the makers leave and are replaced by takers (foreign or domestic), the funding dies.

Years ago I watched a town-hall type argument between a non-white city council and primarily-white retirees; the council was furious because so much of current revenues had to be diverted to pay retirees while little was left for current services. This issue is killing NJ, and at every level; more and more makers are leaving when the last child finishes high school, and they are being replaced by foreigners trafficked here to fill the schools but they don’t contribute much. Cities are trying to farm out their takers to surrounding suburbs via Section 8 to escape the burdens they impose - and the suburbs promptly evacuate.

[FreedomPoster]

This is why governments should only used defined contribution plans, and not defined benefits.

[House Atreides]

We need to recognize that the people with government “positions” are our designated overlords and we owe them easy “work” lives and decades of well-funded and worry free retirement.

[marktwain]

It is what happens when you use other people’s money to buy votes and organizing power.

[Liz]

Here's a good tutorial of the Halfrican and his Chicago crew's unfortunate sojurn in DC.

ITEM: Working in the WH, Valerie Jarrett Received $36K Annual Pension For a Part-Time Chicago Transit job
dailycaller.com ^ | 2/17/2016 | Chuck Ross / FR Posted by rktman

EXCERPT--Chicago is known for its L-train but White House senior adviser Valerie Jarrett prefers to ride the gravy train. $173,922 Jarrett earned annual as President Obama's senior adviser,* plus getting paid an annual pension of $35,660 for her eight years as chairman of the Chicago Transit Authority - a part-time position - appointed in 1995 by then-mayor Richard Daley (brother, William Daley, served as Obama's COS). Jarrett served as the former mayor's deputy chief of staff and was appointed to numerous other well-paid positions during his term. *NOTE: In Chicago parlance, Senior Advisor means Wire-Transfer Artist.

==================================

One Chicago pension check is what Jarrett admits to.
How many transportation bonds were issued while Jarrett was at Chicago Transit?
Her Chicago water commission pension no doubt pales against hidden income from her lucrative insider Chicago bond deals.

============================================

ITEM---VALERIE JARRETT IS THE KEEPER OF (smirk) "OBAMA'S FEDERAL INHERITANCE" Iran-born Valerie Jarrett held secret meetings with Iran that resulted in the US giving Iran $150 billion dollars......later additional millions and gold got handed over secretly. H.J.Ansari Zarif, the deputy for parliamentary and Iranian affairs within Iran’s Ministry of Foreign Affairs, said he would expose "everyone who allegedly accepted bribes" to facilitate Obama's nuke deal with Iran. "... we will reveal which western politicians received monies during nuclear negotiations to make #IranDeal happen,” Mr. Zarif reportedly

Post-presidency Obama and the missus have mega dollars dancing in their heads. Two Clintonesque foundations and the Obama library fund are all set to get BIG donations from his Muslim confreres. We need to see solicitation letters Valerie sent, requests for donations to Obama's final resting place dedicated to the sun god......his billion dollar Chicago library.

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ACTION NOW---We need to see all of Valerie’s correspondence, emails, snail mails, hard drives, wire-transfers, text files, offshore banking activity, and the like.

ITEM——Demand to see govt reports of all tax dollars outlay to White House Senior Adviser Valerie Jarrett, and everyone employed in her office.

ITEM-—DEMAND CONGRESS SEND YOU ALL AVAILABLE GOVT INFORMATION specifically govt vouchers submitted by Valerie Jarrett:
<><> credit cards,
<><> gift cards,
<><> cell phone/landline bills,
<><> electronic/wire transfers,
<><> detailed expense accounts,
<><> transportation expenses
<><> office expenses
<><> office equipment expenses
<><> office supplies,
<><> unusual stamp purchases (a classic govt corruption MO)
<><> housing allotments,
<><> clothing allotments,
<><> entertainment including alco
<><> household help,
<><> reimbursements for varied business interests.

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ITEM-—TAXPAYERS DEMAND TO KNOW WHO IN THE OBAMA CIRCLE IS CASHING GOVT PAYCHECKS, WHO IS GETTING GOVT PENSIONS, AND WHO IS STILL ON THE GOVT PAYROLL.It’s an old trick politicians use-—hand-picking people and putting them on several govt payrolls. Long after you think they’re gone, they’re still cashing in. THAT INCLUDES Susan Rice, Cheryl Mills, Huma Abedin, Bill CLinton, Chelsea Clinton, Samantha Power, John Kerry, Valerie Jarrett, Rahm Emanuel, David Axelrod, etc, etc, etc.

[Sirius Lee]

Ponzi scheme? Fiddlefaddle! Why I heard just the other day Asshat Ocasio Commie say that we could simply print more money.

[kearnyirish2]

I believe the reason for that is Social Security will be means-adjusted (it already is somewhat via taxation), and to do that (screw working Americans in favor of idle takers) they need to make the case it is insolvent.

I truly believe all these people socking money away in 401Ks will see their SS reduced down the road because of them. They will be heavily outvoted if they try to stop it; a lot of people are banking on the money you have withheld from your check.

[I want the USA back]

Yeah, will that’s why the left is pushing “euthanasia”.

[combat_boots]

Yes

Below age ‘x’ and older than age ‘y’.

[Liz]

THE FEDERAL AND STATE MONEY KEEPS ROLLING IN FOR THE OBAMA CROWD----
never expecting to lose in 2016, they left a huge paper trail.

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HOW MANY GOVT PENSION CHECKS IS RETIRING CHICAGO MAYOR RAHM EMANUEL CASHING?
He was Obama's COS, Bill Clinton' top aide, a Congressman, Chicago Mayor, and even (cough) "worked" at the US Treasury. Read on.

=============================================
Soon as they occupied the WH, Obama placed his COS---Chicago Rahm Emanuel---in control of the US Dept of the Treasury.....
ponder that...... Chicago Rham was Obama's COS AND controlled Treasury.

"Mr President, you are now in complete control of the US Treasury."

==========================================

THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move. When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09

More here: http://online.wsj.com/article/SB124113406528875137.html

[NohSpinZone]

And I believe you. My wife and I are self-employed so we pay both ends of the social security tax, which doubles our pain. So when we ultimately get screwed by the commies in charge, we will at least be thankful that we didn’t rely on SS for retirement, even if we paid through the nose to help fund it.