Monday, December 9, 2013
The Pension Perks Of Serving 20 Years
Residents who have been here a while might remember that the three previous aldermen representing Uptown had long, long tenures in office. Gene Schulter (47th) served from 1975 until 2011; Helen Shiller (46th) served from 1987 until 2011; and Mary Ann Smith (48th) served from 1989 until 2011.
Because of those long terms, they got some great pensions, which maxed out after 20 years in office. Second City Cop linked today to a Tribune chart showing the pensions of 21 retired aldermen. You can see it here.
Will any of Uptown's current aldermen still be serving in 20 years? Ald. Pawar, the youngest at 33, has repeatedly said he'll only serve two terms. Ald. Cappleman is 61; Ald. Osterman is 46. Who knows what Uptown or the City Council itself will look like by 2031, twenty years after our three aldermen took office?
As the chart proves, though, it's a nice pension to get if you can last that long.