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Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Thu Sep 22, 2011 10:44 am
by Appaholic
Former president of Chicago Federation of Labor, city officials defend payout as legal
A retired Chicago labor leader has secured a $158,000 public pension — roughly five times greater than what a typical retired public-service worker in the Windy City receives — after spending just one day on the city payroll, local news reports said.
Dennis Gannon stands to collect approximately $5 million in city pension funds during his lifetime. He now draws the pension while working for a hedge fund, the Tribune reported.
Gannon, former president of the Chicago Federation of Labor, 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. That arrangement is allowed under a state law signed by Gov. Jim Thompson on his last day in office in 1991, according to an investigation by the Tribune and WGN-TV.
The change has enabled a couple dozen labor leaders to become potential millionaires.
http://www.msnbc.msn.com/id/44626194/ns/us_news-life/
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Thu Sep 22, 2011 10:45 am
by Appaholic
What's the bigger story? That a Labor Chief actually worked one day? Or that MSNBC actually reported this story?
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Thu Sep 22, 2011 11:43 am
by dbackjon
Shameful.
And note, law signed by a Republican - corruption in both parties.
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Thu Sep 22, 2011 1:44 pm
by Bronco
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Looks like it's better to be a Union boss than the rank and file
Good to be in corrupt Chicago
Wasn't Barack O'Daley from Chicago
Law gives huge pension perks to union leaders
Chicago Tribune ^ | Sept 21, 2011 | Jason Grotto
All it took to give nearly two dozen labor leaders from Chicago a windfall worth millions was a few tweaks to a handful of sentences in the state's lengthy pension code.
The changes became law with no public debate among state legislators and, more importantly, no cost analysis.
Twenty years later, 23 retired union officials from Chicago stand to collect about $56 million from two ailing city pension funds thanks to the changes...
(Excerpt) Read more at chicagotribune.com ...
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Fri Sep 23, 2011 3:40 am
by native
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Fri Sep 23, 2011 3:41 am
by native
dbackjon wrote:Shameful.
And note, law signed by a Republican - corruption in both parties.
Yup. Big Jim just dropped a bunch of notches in my eyes.
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Fri Sep 23, 2011 10:59 am
by Ibanez
Appaholic wrote:Former president of Chicago Federation of Labor, city officials defend payout as legal
A retired Chicago labor leader has secured a $158,000 public pension — roughly five times greater than what a typical retired public-service worker in the Windy City receives — after spending just one day on the city payroll, local news reports said.
Dennis Gannon stands to collect approximately $5 million in city pension funds during his lifetime. He now draws the pension while working for a hedge fund, the Tribune reported.
Gannon, former president of the Chicago Federation of Labor, 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. That arrangement is allowed under a state law signed by Gov. Jim Thompson on his last day in office in 1991, according to an investigation by the Tribune and WGN-TV.
The change has enabled a couple dozen labor leaders to become potential millionaires.
http://www.msnbc.msn.com/id/44626194/ns/us_news-life/
What a f'd up city and state.
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Sun Sep 25, 2011 7:52 pm
by BDKJMU
Another reason to not like unions.
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Fri Sep 30, 2011 7:17 pm
by houndawg
BDKJMU wrote:Another reason to not like unions.
Some nobody thinks he's a bonus pool exec.
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Fri Sep 30, 2011 7:18 pm
by Ibanez
That man got paid!!!!!!!! He's Paid. He's Paid. What What!!!!!!!
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Sun Oct 02, 2011 2:39 pm
by BDKJMU
houndawg wrote:BDKJMU wrote:Another reason to not like unions.
Some nobody thinks he's a bonus pool exec.
Figures you would be the one to defend this.
Re: Ex-labor Chief Works 1 Day, Nets $158,000 City Pension
Posted: Sun Oct 02, 2011 8:40 pm
by AZGrizFan
