Ex-labor Chief Works 1 Day, Nets $158,000 City Pension

[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/

[Appaholic]

What's the bigger story? That a Labor Chief actually worked one day? Or that MSNBC actually reported this story?

[dbackjon]

Shameful.

And note, law signed by a Republican - corruption in both parties.

[Bronco]

-
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 ...

[native]

What's the bigger story? That a Labor Chief actually worked one day? Or that MSNBC actually reported this story?

[native]

Shameful.

And note, law signed by a Republican - corruption in both parties.

Yup. Big Jim just dropped a bunch of notches in my eyes.

[Ibanez]

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.

[BDKJMU]

Another reason to not like unions.

[houndawg]

Another reason to not like unions.

Some nobody thinks he's a bonus pool exec.

[Ibanez]

That man got paid!!!!!!!! He's Paid. He's Paid. What What!!!!!!!

[BDKJMU]

Another reason to not like unions.

Some nobody thinks he's a bonus pool exec.

Figures you would be the one to defend this.

[AZGrizFan]

Some nobody thinks he's a bonus pool exec.

Figures you would be the one to defend this.

Houndawg = union to the end...