And these union dirtbags like Trumpka, Hoffa, and Stern, and the dimocrat party, wonder why Americans are fed up with union demands, threats, and violence, and wonder why unions are about to be but a footnote in history, especially the public-sector unions?
Here’s why:
One-day rehiring nets former Chicago labor leader a $158,000 city pension
Most city workers spend decades in public service to build up modest pensions. But for former labor leader Dennis Gannon, the keys to securing a public pension were one day on the city payroll and some help from the Daley administration.
And his city pension is more than modest. It’s the highest of any retired union leader: $158,000. That’s roughly five times greater than what the typical retired city worker receives.
In fact, his pension is so high that it exceeds federal limits and required the city pension fund to file special paperwork with the Internal Revenue Service to give it to him.
Gannon’s inflated pension is a prime example of how government officials and labor leaders have manipulated city pension funds at the expense of union workers and taxpayers. Like other labor leaders, he was able to take a long leave from a city job to work for a union and then receive a city pension based on a high union salary.
But in a new twist, a Tribune/WGN-TV investigation has found that Gannon is eligible for the lucrative pension deal only because City Hall rehired the former Streets and Sanitation Department worker for a single day in 1994, then granted him an indefinite leave of absence.
Gannon quickly rose to become one of the most powerful labor leaders in the city, speaking on behalf of more than 300 Chicago-area unions as president of the Chicago Federation of Labor.
State law allowed Gannon to retire from the city in 2004, the year he turned 50; since then, he has received about $1 million from his city pension. He stands to collect approximately $5 million during his lifetime, according to an analysis based on the fund’s actuarial assumptions.
Until last year, that pension came on top of Gannon’s union salary, which had grown to more than $240,000. He now draws the pension while working for a hedge fund, Grosvenor Capital Management, that does work with public pensions, including the Teachers Retirement System of Illinois. The firm also was one of Mayor Rahm Emanuel’s largest campaign contributors. Click here to read the rest.
After reading this, anyone with a functioning brain should be able to see why allowing libs to run any part of government will become nothing more than a shakedown of the taxpayers and a blank check for the politicians and unions, leaving the cities billions of dollars in debt that the taxpayer, who already got screwed once, to get screwed again, as taxes (disguised as “fees”, usually) will have to get raised again to fund this out of control theft.
But I don’t feel sorry for them, not one iota. After all, they keep re-electing these dimocrat crooks, so the a-holes deserve what they get. Hope the libturd morons are enjoying it as they go broke.
Tags: Economy, Leftists, Moonbats, Politics, Progressives
