CTU. Outrage at Rahm’s pension proposal.

Dear Fred,

In carefully examining the pension “deal” put forth recently by Mayor Rahm Emanuel, we have found that the plan does not, in any way, solve Chicago’s pension problem. As we have said many times before, over and over and over again: This is a revenue problem.

Our members are rightfully enraged, as the cuts that the mayor is proposing are just more of the same—more of the same burden being placed on citizens who have endured mass school closings, the closing of mental health clinics, unemployment and continued crime in our neighborhoods.

The worker retiring today under the mayor’s proposal, receving $33,423 a year, would receive $40,943 a year in 20 years. In today’s dollars, in 20 years, $40,943 will have the same purchasing power as $22,669. We dare the mayor to speak to any of our clerks or paraprofessionals and tell them that this terrible plan isn’t a cut.

This is continued disinvestment in our city, which will send hardworking men and women into poverty with no safety net, as there is no social security for our workers. Dedicated school clerks, teacher aides, lunchroom workers and janitors from the South and West sides of Chicago—workers we depend on—will be harmed by this draconian plan.

The Chicago Teachers Union did not negotiate this bill and were not invited to the table for discussions. We are strongly opposed to this plan and intend to vigorously fight this attempt at pension theft with every fiber of our union.

Let your elected officials know now that this vote is a vote for your present and future! Let them know that you are opposed to this plan and will fight for your retirement savings. Let them know the following:

The mayor’s proposal is worse than the state’s SB1, and clearly unconstitutional, as it will cut pension benefits.

The mayor’s proposal is another austerity measure that disproportionately impacts women and people of color and negatively impacts Chicago’s economy.

The mayor’s proposal proposal cuts 1/3 of a retiree’s future income.
The mayor refuses to propose a revenue stream to solve a revenue problem.

Stacy Davis Gates
CTU Political Director

8 Replies to “CTU. Outrage at Rahm’s pension proposal.”

  1. How many pensions do the corporate folks have including Rahm (hedge fund? Congress? White House? City of Chicago). There oughta be a law….

    Robin Potter – Robin Potter & Associates, P.C., 111 E. Wacker Drive #2600, Chicago, IL. 60601 [312] 861-1800 – fax: [312] 861-3009 – cell [773] 575-6216; conference call # (267) 507-0400; #221416

  2. Does everyone understand how little half of current inflation rate is today? It’s .56% . That’s right. You will receive half a percent COLA based on your original pension payout. Lucky if you get $1 a day

  3. I read that the aldermen will not answer questions about the pension deal because their constituents are up in arms over a tax increase with the media stirring the pot. Perhaps this question should be asked by the taxpayers to the mayor, et al: where did the workers pension money go that we taxpayers already paid???

  4. What was the cost over run for Millenium Park? How much are we paying for Maggie Daley Park? Where did the money go from the parking meter deal? How much was spent to renovate Soldier Field? How many tax dollars are going to the new arena being built to accommodate DePaul basketball? Now let’s list all the individual political projects by aldermen. Of course we have to lower pensions and raise property taxes how else can we have a future pot of money to spend on pet political projects!

  5. It will be interesting to see how Kwame Raoul and Barbara Flynn Currie vote on the slashing of Chicago pensions since they both voted YES to slash state pensions. Also, why is the inflation rate used? Why not use the corruption cost for living in Crook County. The highest sales tax in the state, probably the country, is just one example.

    It is also interesting that Rahm goes for the weakest unions first. What is the president of the SEIU getting for rolling over? Does he really think that teachers, cops, and firefighters are going to put up with his verbiage and abuse? Really? Does he really think we are that stupid?

    I agree with Susan. Where DID the money go that was to fund pensions? Teachers know that the tax levy stolen from the CTPF went to fund charter schools and line the pockets of fine educators like Juan Rangel. Let’s start that discussion.

  6. Illinois has been stealing our pensions since the 50’s. To say nothing about the unfunded years. Polititians can’t stand to see money just sitting and c ollecting interest, especially when it isn’t theirs. The pension ans Soc. Sec. problems were caused by them, they should be paying it back.

  7. Clearly they want this rushed through so they can immediately begin the heist before the state court rules. If the court drags their feet, Rahm still keeps the spoils!

  8. It’s much more than a third of future pension payments. He wants to end the insurance subsidy. CTU memebers DO NOT receive free health insurance rather a subsidy to help pay for Medicare and Medigap insurance. If these subsidies end, every CTU retiree will pay an additional $6000 a year toward their health care…and this is after the thousands each individual already pays.
    Also they want to rush this through before the court rules. It will take longer to undue the damage if ruling is in our favor….then they might want to renegotiate all the past due monies taken by their theft.

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