While people are screaming at corporate CEOs about their bonuses, a Chicago union boss could be receiving a $500,000 pension.
According to the findings of a joint investigation by the Chicago Times and WGN-TV, at least 8 union leaders stand to receive massive pensions. One would receive $500,000 while another could receive $438,000. These individuals are benefitting from "the charitable interpretation" of the pension programs.
On Tuesday, state Sen. Mark Kirk released a report on Illinois' debt that said it had the worst credit rating of any state and that its debt was rising. With outrageous pension program interpretations, it is no wonder the state is facing massive financial problems.
While analyzing the pension payments for 59-year-old union official, Liberato "Al" Naimoli, it was discovered that he would get a total of about $9 million if he lived to his expected lifespan.
Why is the "Occupy Wall Street" movement protesting in Chicago? I guess if I was being paid to protest by the unions, I would not bite the hand that feeds me.
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