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Lamplighter · 10-29-2011, 09:20 AM

Good catch, Classic.
It's embarrassing to make such a mistake, particularly when it's so public.
I misinterpreted the statement in lead paragraph. I apologize.

I found the information later in the article saying that Ms Mintle
had already contributed $72,000 in her 8 yrs of CTA service.

For a deferred annuity at 7% return on that balance would be ~ $89k now,
and about $270k when she reaches retirement age at 65 yr
If she contributed an additional $53k now, this could add ~ $160k when she reaches 65 yr

Thus, her total balance at 65 yr could be $270k + $160k or ~ $430k
Her service credits would be 8 + 6, or equivalent to working 14 years for CTA.
Such a balance might pay out $65k per year, or about a third of her annual ($175k) salary

When she left the CTA, Ms Mintle's replacement was hired at the same pay range.
While $175,000 /yr salary seems a lot, maybe Chicago does pay such salaries
to Chief of Staff for the heads big agencies such as the CTA

So, all in all, I do not yet see any criticism of Ms Mintle or Mr Emanuel,
and stand by my comments in my original post.

10-29-2011, 09:20 AM	#70
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	Good catch, Classic. It's embarrassing to make such a mistake, particularly when it's so public. I misinterpreted the statement in lead paragraph. I apologize. I found the information later in the article saying that Ms Mintle had already contributed $72,000 in her 8 yrs of CTA service. For a deferred annuity at 7% return on that balance would be ~ $89k now, and about $270k when she reaches retirement age at 65 yr If she contributed an additional $53k now, this could add ~ $160k when she reaches 65 yr Thus, her total balance at 65 yr could be $270k + $160k or ~ $430k Her service credits would be 8 + 6, or equivalent to working 14 years for CTA. Such a balance might pay out $65k per year, or about a third of her annual ($175k) salary When she left the CTA, Ms Mintle's replacement was hired at the same pay range. While $175,000 /yr salary seems a lot, maybe Chicago does pay such salaries to Chief of Staff for the heads big agencies such as the CTA So, all in all, I do not yet see any criticism of Ms Mintle or Mr Emanuel, and stand by my comments in my original post.