LIGHTFOOT’S $42.7M PROPERTY TAX HIKE GOES JUST TO PENSIONS

Illinois Policy ^ | 8/12/2022 | Dylan Sharkey

[dznutz]

When a city of Chicago police retiree hits 65 its off to Medicare for them. No free healthcare paid for by the city.

Pension is after working 20 years 50% of salary, and 2.5 percent more for each year they work past 20. To max out at 75% they have to stick around for 29 years and a day for a 30 year pension, which is based on best four years of salary for the previous 10 years.

While working, at least with the police, around ten percent of their pay is put into the pension fund, and the city is supposed to contribute $2 for every one dollar put in. The problem is the city wasn’t putting in their share for many years and the pension fund fell to around 33% funded, in other words, what was in the fund was what the officers had contributed. The Fraternal Order of Police was in bed with the city and didn’t do much to hold the city to their end.

[mewzilla]

Deep State will tax you out of your home to keep the people who purport to be public servants in the style to which they’ve become accustomed.

[Grampa Dave]

Thanks!