Law gives huge pension perks to union leaders...
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. Full story + video...
Don't miss:
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. Full story + video...
Don't miss:
- Italians furious over porn star Cicciolina's lavish pension rights...
- Mandelson is still being paid £8,000-a-month by EU two years after quitting Brussels..
- £1.2 million bill as Euro MPs go on a "jolly" to Uruguay...
- Bosses' bonuses up by 187% since 2002
- South African foreign minister rents £20,000 private jet rather than...
- Spain is broke, but Pope to get expensive and lavish welcome...
- Highly paid Singapore ministers get their pensions at 55 ... even if they are still in office???
No comments:
Post a Comment