Wednesday, October 12, 2011

ILL-inois: Union big shots double and triple dipping on pensions

Only in Illinois can a union boss collect three pensions for performing one job. Liberato "Al" Naimoli "retired" from a $15,000 municipal job he hadn't worked at in 25 years. He now collects a $158,000 annual pension based on his salary as president of the Cement Workers Local 76, the Chicago Tribune is reporting. He's also eligible to receive two union pensions. The Trib says it's aware of seven union pension double dippers, but Naimoli will be the only three-peater once he starts collecting his other two pensions.

A loophole in Illinois pension law skirts a stipulation that is supposed to prevent double, and yes, triple pension dipping.

Illinois leads the nation in unfunded pension liabilities.

Learn more in this WGN-TV video.

State House Minority Leader Tom Cross (R-Oswego) has introduced a bill targeting multiple union pensions.

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