CTA Board Retirees on Pension Gravy Train
via Chicago Sun-Times
“Valerie Jarrett was on the Chicago Transit Authority board for nearly eight years before becoming a top aide to President Barack Obama. Howard Medley was on the CTA board for a decade before he was convicted in a scheme involving a CTA fuel contract.
Despite their divergent paths, the time Jarrett and Medley spent there proved lucrative to both of them. They and other retired CTA board members — all of them political appointees who worked only part time — each came away with five-figure pensions that have cost the public transit agency a total of more than $3 million over 10 years, a Chicago Sun-Times and Better Government Association investigation has found.
In 2014, the most recent year for which records were available, the CTA paid $330,000 into its board pension fund and doled out $329,744 in pension payments to 19 board retirees or their survivors.”
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