What Will Become of Chicago Resident Daley?

May 09, 2011

Ever want to meet Mayor Richard M. Daley?

Chicago’s mayor is hosting an open house at his office on Monday, exactly one week before the end of his term.

According to ABC-7, Chicago’s longest-serving mayor will be greeting visitors from 1 to 4 p.m. today in his fifth floor office at City Hall, 121 N. LaSalle St., Chicago.

Daley says the open house is to thank Chicago residents who have supported him during his 22 years in office.

To our Chicagoland Real Estate Forum RSS Feed subscribers: I’m sorry I didn’t get this story to you sooner. Daley has one more week in office. I’ll let you know if he decides to host another open house within that time.

Mayor DaleyBy the way, ever worry about what Mayor Daley will live on after he retires? Don’t.

First off, he is eligible to collect government pensions worth nearly $184,000 a year.

Daley has been working for the government since 1973. Before he was mayor of Chicago for 22 years, he spent about eight years as Cook County State’s Attorney and about another eight years in the Illinois Senate.

Instead of receiving his pensions from each government body he worked for, Daley is going to take his money under the Illinois Retirement Systems Reciprocal Act, which will combine all his government services into one pension.

Next, Daley could do speaking engagements and command up to $50,000 per appearance. The mayor also kept up his Illinois license to practice law, so he could be a lawyer or even start a law firm.

And/or, he could always right a book.

Additionally, if Daley gets his way, he will get to continue to use Chicago Police officers as bodyguards while he is in political retirement.

Not a bad way to go. Daley will become a regular citizen on May 16. He is eligible to begin collecting his pension the next day.

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