Cushy pensions for CTA insiders left you standing in the cold in Chicago

February 29, 2016

Andy Shaw: Cushy pensions for CTA insiders left you standing in the cold

Written By Andy Shaw, Chicago Sun-Times

It’s infuriating to end up on the wrong side of a bad deal.Website Insert Out of the Box Thinking copy

Paying more for a used car than it’s worth, buying furniture a week before it goes on sale — even letting grocery coupons expire.

Nobody likes to spend money unnecessarily.

But Chicago taxpayers and transit riders are doing just that — footing the bill for the “sweetened” pensions of former six-figure transit executives and part-time board members who don’t deserve them.

That’s my candid assessment after revisiting a recent investigation by the Sun-Times and the Better Government Association.

We documented nearly $100 million in arguably unjustifiable pension benefits to Chicago Transit Authority officials over the past 15 years.

Most of it’s gone to former CTA executives who were able to start collecting pensions at age 50, or even younger, after agreeing to retire early.

Click here to read the full story.

 

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