(AMERICAN THINKER) – Newly elected as mayor of Chicago, former teacher and union organizer Brandon Johnson, exemplifies why the State of Illinois faces a $210 billion unfunded public employee pension liability, thought by some independent expert observers to be even larger.
As the Illinois Policy Review points out, after teaching a mere 4 years in a Chicago classroom, Mayor John is able to receive retirement benefits totaling $1.1 million over his expected lifetime. And, if he plays his cards right going forward, his public pensions could total $2.8 million, which is a nest egg most Americans could only fantasize about.
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The really big payout of $2.8 million would require Johnson to keep his union job, thereby accumulating service credit (despite not working as a teacher), and inflation adjustments, while living to the average life expectancy of 85 for theose who reach retirement age.
