Following in the footsteps of former Cook County Board "President" Bobbie "Steal" Steele (and many others), a Daley insider will retire and collect two government pensions. The Sun-Times has the story:
By jumping through an early retirement window, Degnan got a lump-sum bonus of 10 percent of his annual city salary. He was also free to collect both a city pension and a CTA paycheck.I gotta say, as a taxpayer, I am very proud that I can offer up such a cushy retirement to a dedicated city worker. Nevermind saving for my own retirement. I'm just happy to help.His May 31 retirement from the CTA means Degnan can now collect two local government pensions. His annual retirement check from the city amounts to roughly $92,208 or 80 percent of Degnan's highest city salary. After just seven years on the CTA job, he'll collect a $10,997-a-year CTA pension.
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Civic Federation President Laurence Msall said Robert Degnan's double-pension is particularly galling at a time when under-funded city pensions threaten to saddle future generations of Chicagoans with a debt they cannot handle."It's a shining example of why the city's pension system -- and all other local government systems authorized by the General Assmbly -- need to be reformed and structured to what is economically reasonable for taxpayers, rather than insiders who are able to manipulate the system," Msall
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