Critics have said that "big money corporate interests" are guiding the Civic Committee of Chicago to push for pension reform. Perhaps, but it's membership is diverse and includes several university presidents, including Michael Hogan. The richest members are the Crowns and Pritzkers--multi-billionaire families from Chicago and BIG, BIG backers of Obama. In fact, as Jewish donors sour on Obama, Penny Pritzker (who happens to be Jewish) is trying to reassure Jewish donors about the president's stance on Israel. (Penny Pritzker was a chief campaign fundraiser for Obama in 2008).
So, if "corporate interests" are behind pension reform in Illinois, it's not the Koch brothers but some very liberal Democratic billionaires. ; - )
To wit: Illinois is not Wisconsin. Illinois is Illinois. Or, rather, Illinois is Chicago. Ha!
Here is a membership list:
Postscript to earlier story on death of SB 512: On June 10th they will announce the new Money Purchase Formula, which many expect to be lower. They can legislate pensions away and they can nibble them away with bureaucratic tweaks here and there. Expect a piecemeal, split SB 512 that may not include all the retirement systems (it already exempted cops, fire fighters and prison personnel). Also expect changes to pension formulae and whatever else can be done by faceless bureaucrats.
1 day ago