Chicago Union Officials Reportedly Stand to Reap Benefits of Multiple Pensions

Chicago union officials stand to reap millions in additional retirement benefits by dipping into multiple pension funds despite questions about the legality of doing so, a local news investigation found.

An investigation by the Chicago Tribune and WGN-TV found that at least eight city labor leaders could receive pension benefits from both city accounts and union accounts.

According to the Tribune, Illinois House Republican Leader Tom Cross filed a bill in response to the findings that would block union leaders from double dipping.

"This is a disgrace," Cross reportedly said.

The investigation found one labor leader stood to receive more than $400,000 annually from three pensions. Others were poised to reap benefits from two pensions.

The law says union leaders under city pension plans cannot receive benefits from local labor pension plans as well. However, the city pension director and others argued that the union groups in question do not count as local labor groups.

Cross called that a "questionable interpretation."

Click to read the full story in the Chicago Tribune.