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Keyword: teacherspension

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  • Chicago pension fiasco: $54M lost on deal with Daley nephew, ex-Obama boss

    09/14/2018 8:32:22 AM PDT · by george76 · 19 replies
    Chicago Sun-Times ^ | September 14, 2018 | Tim Novak
    Vanecko and Davis. Their firm made millions in fees even as retirement plans for teachers, cops, other Chicago city workers suffered big losses. A dozen years ago, five financially strapped city of Chicago pension funds invested $68 million in a shaky real estate deal put together by a former boss of resident Barack Obama and a nephew of Mayor Richard M. Daley. It was a high-risk investment. Allison S. Davis — who once headed a small Chicago law firm that gave Obama his first job out of Harvard Law School — and Daley nephew Robert G. Vanecko even warned in...
  • THE WATCHDOGS: Generous pension benefits only one part of state, city financial crisis ( Chicago )

    05/18/2015 7:03:55 AM PDT · by george76 · 13 replies
    Chicago Sun-Times ^ | 05/17/2015 | Chris Fusco, Dan Mihalopoulos and Patrick Rehkamp
    One of every four retired workers from the state of Illinois, the city of Chicago and the Chicago Public Schools is getting a pension of more than $60,000 a year. That’s 80,365 people in all. For 13,240 of them, those checks provide a yearly income of $100,000 or more, a Chicago Sun-Times/Better Government Association analysis of pension records has found. An additional 20,004 have pension incomes totaling between $80,000 and $100,000 a year. ... the root of the problem is that government officials kept promising lifetime benefits to workers — and, in many cases, to their surviving spouses should they...
  • I have AN answer to the teacher's pension problem

    03/24/2015 7:46:21 PM PDT · by knarf · 11 replies
    self | March 24, 2015 | knarf
    Every legitimate American child has a SS number, and ......