Apologies for my ranting. ....
IMO, no apology needed. These are issues where injustices are going to get us worked up. And it's not really a 'rant' since you are providing references, not just bellyaching (assuming the ref is credible, which I don't know for certain, but will take at face value for now).
But I was starting to wonder, what does this have to do with the OP subject of municipal pensions in Illinois? It's not like 2 wrongs make a right.
And I do wonder, are the problems in the private sector as bad (in total magnitude) as those in the public? While the OP highlighted some extreme and relatively rare occurrences, 'spiking' in general is a very wide-spread problem. But I don't have any numbers at hand for now, just asking the question.
How these management dogs ripped of American workers is so despicable ...
And there are people who wonder that about some too-powerful Unions also.
I welcome the more cool headed on the forum to read this book and then inform me of how it is not accurate.
I hope someone does, I assume I'm excluded?
There is a whole consulting industry available to show corporate execs how to play the system so they can remain "legal" or close enough to legal to profit from these despicable practices.
This is exactly why I'd like to see all the pensions and other 'promises' done away with (private and public). I'm not knocking politicians when I say this (for once), it's just the nature of how things get done, but the fact is that a consulting industry and corporate execs are going to be able to run circles around any laws. It just takes too long to get things through Congress, those firms can move faster, and respond to change faster.
Put some % of salary in a fund with my name on it, let me decide what to do with it, and no corporate raider can take it from me.
-ERD50