Sunday, April 14, 2019

Work 1 day for 10 years of pension benefits!

You read the title correctly. Economist Dan Mitchell has an article called Bureaucrat of the Year.
It outlines how an Illinois lobbyist was made a substitute teacher for 1 day then got 10 years worth of credit for a Teachers Union Pension!

It's not us worker bees that are ruining public employee pensions!

From the article-

The Chicago Tribune recently opined on this horrific example.
…a controversial state law…allowed a lobbyist for the Illinois Federation of Teachers, David Piccioli, to become certified as a substitute teacher in December 2006 by working one day at a Springfield elementary school — and to buy pension credit for his 10 previous years working as a lobbyist. That sweet deal qualified him for a pension windfall from a teachers retirement fund that as of late 2018 carried an unfunded liability of more than $75 billion-with-a-B. Because he also draws a pension from a previous job as a House Democratic aide, Piccioli’s total pension income now rises to nearly $100,000.

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