Editorial On Pensions
For decades, the people of Illinois have benefitted from the services delivered by their public employees. Further, Illinois citizens have benefitted financially from the terms of employment with these workers. Schoolteachers, state troopers, social workers and corrections officers all opted for public service under a series of tradeoffs proffered by the State of Illinois: State employees would be paid a lower salary than that of their private-sector counterparts, but in exchange they would receive specific guarantees. Critical among these benefits was a pension — a provision so critical that the state’s commitment to retirement benefits was enumerated in the 1970 State Constitution.
This arrangement — lower salaries for state employees in exchange for a constitutionally guaranteed pension — allowed the state to balance its budget, allocate resources to other state needs and provide critical public services. Just like a private-sector employee who chose to take a lower salary in exchange for an extra week of vacation, state employees willingly accepted less money in every paycheck in exchange for an alternative, deferred benefit.
Labels: pension
posted by SCC at 12:05 AM
122 Comments:
Daley skipped 17 of 22 pension matches/payments, yet it is the selfish city employee that caused this. How about someone asking Daley why he skipped the payments?
How about charging $50 for every non-emergency 911 call? $25 for "Boo won't go ta school" calls. Got to keep the voter base happy.
Protect yourself! 023rd District used to be a fun district to work at until Captain Lemmer brings down the entire 3rd watch with his stop missions, and his nonsense ideology on "how to be the police" can someone have this Capt sent to the behavioral modification program?
Farewell my Pension...I barely knew ye....If they had told me 10 years ago there would be no pension, I would not have taken this job. If the politicians renigs on this, they will get exactly the police force they deserve.
a couple of quick thoughts..alot of talking heads are comparing our pension to private section deals. they believe in shared sacrifice during this tough economic times. we recieved no extra bonuses during the 90s during the surge. we got the same stinkin raise and less and less medical coverage too.we took this job with the promise/state constitution law of receiving a pension after 20 years of service. would joe public like for us to work monday-friday 9am-5pm? then we all go home and weekends off?
Missed most of the debate on O'Reilly tonight, but he has Rangel and Guiterriz debating the Wiscosituation. Was surprised Rangel said our pension benefits should not be decided by the legislator, but by collective bargaining and negotiations, assume Louie took the other view and that would not be good because he is tight with Rahm Louie also said that everyone should sacrafice, doent that sound alot like Rahm
Any legislator that proposes any change to cut any working-man's pension I would say...
..."YOU FIRST!"
They will break the pensions and bust out the unions. Keep an eye on the Wisconsin union fiasco as that is what ALL the politicians and corporations are watching.
If the Wisconsin governor is successful the precedence has been set and the rest of the states will follow falling like dominoes.
In the private sector similar take-backs have already occurred for higher CEO profits.
Defined benefit retirement plans were replace with employee contribution plans that were then replaced by 401K's and IRAs -- with each change a lower standard of retirement was guaranteed.
The giving you control over your future guise was preached to sell it all.
Unfortunately we are at a point where the part-time temporary Wal-Mart-like "don't-stand-in-the-way=of-free-trade" jobs cannot support the taxes needed for the public pensions.
Blame the corporations for off-shoring the living wage jobs for CEO bonuses that we are told that we must not tax or the precious CEO's will pick up their toys and jobs and leave.
They even have all their shareholders brainwashed and fighting their battles for them telling us all the CEO's don't owe us anything!
Society has turned morally corrupt in the USA.
Lies about pensions. Lies about banker bailouts. Lies about social security and medicare.
Laws ignored and contracts ignored.
Seriously, the banks made false appraisals on real estate inflating the values. Liar loans were given with no documentation or verification of income.
Knowing the loans were bad they were bundled and sold them as investments where even the ratings agencies lied rating them as triple A investment grade safe.
Then bets where placed that the loans would fail by the very people that issued them with an instrument called a credit default swap.
Even now as people are foreclosed upon the same bankers are violating laws on foreclosure. Robo-signing docs, missing docs...etc.
The list goes on and not a single person is being criminally prosecuted or even charged. Not one!
So yeah. Put your faith in the court system is a joke. A huge fucking joke because you will soon find out the words don't mean what you think they mean. They law to protect you is not for you it for someone in another class.
Blow jobs are not sex, illegal immigrants are not illegal just undocumented aliens and residency only means that you left a box of old crap behind in a basement somewhere. Those are just some of the more recent examples
Sorry, but we're really not a nation of laws. Only for some and you need a decoder ring to figure out what laws apply to who and when based upon their social-economic position.
Good luck my friends. Good luck.
SCC said...
"...And good enough to stand up in the face of financial impossibilities? That's the road we're headed down."
To ME, recognizing the financial impossibilities is fairly simple. The number of tax payers in this country are outnumbered by non-taxpayers, and we can no longer sustain a society of freeloaders.
***Secure the borders;
***Deport the dregs of our society who are sucking the very life out of our economy;
***Every NON-citizen sitting in a U.S. jail or prison should be deported to their home country instead of us housing and feeding them;
***STOP all the bullshit talk of amnesty for illegals... apply for citizenship like my parents and grandparents did;
***There must be SOME reform. I pay $350+ a month for health insurance in retirement which devastates my pension income. Yet, reportedly, 89% of retired govt workers have health coverage as part of their pensions (which is paid for by taxpayers);
***Forensic audits MUST BE the word of the day. Find out who is wasting, overspending, misappropriating, misusing, or stealing from the people. Stop the hemorrhaging of tax dollars from the govt;
***Quadruple the number of investigators looking for welfare and medicare/medicaid fraud, false SSI claims, tax cheats and all other forms of fraud;
***STOP the freebees! The govt is subsidizing everything for the people who deserve it the least. STOP IT!
*** TORT REFORM!!! The ridiculous awards coming out of the courts effect everyone in society. Awards should be FAIR, not FAIRLY OUTRAGEOUS! And while we're here in court, INDEMNIFY POLICE OFFICERS! That will save the govt million$ that shouldn't be being paid to begin with;
***STOP all of the pork barrel waste in Congress!
This is a start. Our country does not OWE anyone a free ride, OR OWE some two bit politicians some royal existence. Certainly, or economy will grow by leaps and bounds if we could accomplish this stuff, and it's damn time we got started on it.
People should be asking why is it that the pension contracts have to be renegotiated in good faith and none of the other city contracts are being threatened in the same manner.
We hear a little about the parking meter contract but it doesn't seem to be gaining any traction.
What about the cities towing contracts for example...and all the others.
A pension contract being broken should be no different than a city contract being broken. Get those pod cam contracts on the table, the towing contracts, the parking meter contracts.
If we take a cut they all take a cut and share the pain. What are we second class citizens?
Where is the outcry by "concerned" politicians?
Where is the rallying by union leadership that's supposed to represent memberships that face the decimation of the promise of their pension?
Where are either of the aforementioned entities to demand similar concessions from the catered-to constituency?
After all, what's good for the goose is good for the 'hoodrats, no? Where are the PSAs (en Espanol tu, por favor) announcing legislation that's going to cut 20% across the board from entitlement programs such as subsidized housing, "food stamps" and other minority-pandering atrocities that yield little to no return on investment? Other than future votes for the Democrats, that is.
I guess I must've missed it when the politicians called for stricter guidelines surrounding the application process for any of the plethora of tax-subsidized aide. I must've been asleep when they promised enforcement of the gaming of the system by illegal immigrants for everything from birthing bastard children to Federal compensation for flooded 3rd floor apartments which were obtained fraudulently via the "Section 8" program.
I must've been in a coma when the powers-that-be ruled against giving June Bug a $1,300 monthly stipend "cuz da docta says I be too stupid to learn howta read" or $900 monthly because persistent asthma prevents Parakeeta from gainful employment.
Yes, SCC, "for decades, the people of Illinois have benefitted from the services delivered by their public employees". Only problem was that many, many more people not from Illinois and/or not legal residents of Illinois (or ANY state for that matter) also benefitted from these same services without contributing shit towards the "operating costs".
These same people were the ones to chronically abuse the health care, public education and countless other systems and programs that were designed to be temporary solutions for those in distress; ironically, the people who actually earned these services by consistently contributing their fair share via payroll, property, income and sales taxes were the ones routinely put through bureaucratic hell to obtain these same services, which have ultimately become substandard at best.
The demise of the once-great state of Illinois is full throttle ahead, courtesy of the Democratic party and all the liberal, asshole voters who couldn't see the forest for the trees. Enjoy sleeping in the bed you've made, folks. I've got a 2 year "nap" left here, then I'm off to greener pastures.
Fuck Chicago, and double-fuck Illinois.
Retiring Boomers Find 401(k) Plans Fall Short
Median 401K balances are only a mere $149K -- less than 25% of what is needed to maintain their standard of living.
Check out the above link with the personal stories -- most of them victims of the banker caused financial melt down.
============================
In other news Bill Daley ex JP Morgan banker exec, is doing just fine. He released his 43 pages of financial disclosures statements where he states he was earning about $20 million dollars.
The financial disclosure form shows Mr. Daley’s 2010 salary at J.P. Morgan was $675,000. His cash and stock bonus for 2009, paid in 2010, totaled about $3 million. His cash and stock bonus for 2010, paid in 2011, was $4.8 million. His pension plan, paid out in a lump sum, totaled $6.6 million.
It so comforting...
Did you know that Daley now gets to defer his capital gains taxes on stock sales since he took his position in Washington and is forced to sell his holdings?
It all makes sense now doesn't it? Check the above link for more.
OT
Criminal gangs have "severely assaulted" off-duty Winnipeg police officers, conducted surveillance on them outside of work and have even shown up at their family events in brazen attempts at intimidation.
A six-week-old Ontario labour-relations decision offers a rare look at the security threats facing Winnipeg police officers as well as civilian employees.
Those incidents have ranged from intimidation to property damage to physical violence over the past decade, the Winnipeg Police Service and the Winnipeg Police Association acknowledge, even as they decline to discuss specifics in fear of encouraging more incidents of harassment.
On Dec. 20, the Ontario Labour Relations Board ruled against Toronto's police union in a dispute with the Toronto Police Services Board over the five-year-old practice of requiring police in Canada's largest city to wear name tags.
No one gave me any contract that said I would have to accept less money in exchange for a pension for hiring on the police department. I thought the pension was a binding contract in itself, and a thank you for risking my life for 25 plus years to keep the city safe and for working in god forsaken hell hole areas and around the lowest scum of the earth.
Plus there is the fact, conveniently forgotten, than I actually paid 9% of every dollar I earned into that pension and along the way lost my social security converge and had to begin paying into Medicare.
Back then I got the cadillac of health insurance plans. I never worried about health coverage, only about keeping myself safe on the streets.
No more. My health plan has been eroded and what once was free now costs and co-pays and deductibles have gone up. My son making half the salary at age 20 gets better health coverage.
My dental coverage has only increased in yearly max amount once in 25 years. My dentist tells me to pretend I don;t have dental insurance, that is how good the City plan is for grown up adults.
I got prescription coverage back then too. It cost zero, no co-pays, no nothing.
That changed too. A few years ago the co-pays for my maintenance meds doubled overnight.
Along the way I was told that I was no longer low paid, that I must share the load. Couldn't do anything about it except take it and work more side jobs.
And now I near the end of this journey that has been my police career. As I near the pension part of life I am told that, hey, wait a minute, your mayor for the past 22 years has failed to properly fund your pension fund and the city can no longer afford it.
This from the mayor that nothing gets past, the greatest mayor in the USA, according to his peanut gallery.
And this quote from that so-called great man, this time about airlines: Daley said, raising his voice. "You don't wait until a crisis happens in government or business. You correct it today."
If that is his philosophy then why did he fail for 22 consecutive years to properly fund my pension fund? He was told yearly by the fund's actuarial advisers what the contribution multiplier must be to keep the fund healthy.
He ignored that advice for his entire time in office.
What about "You don't wait until a crisis happens in government or business. You correct it today."
What happened, oh great municipal leader? Where's the money?
You never failed, Mr Daley, to allow your political police department appointees to swill at the seemingly endless trough that is my pension fund.
You gave tacit permission for your former adviser and nephew to perpetrate their swindle of my pension fund and then you lied, saying you "had no idea he was doing that."
Right, just like you "had no idea" who appointed Angelo Torres as head of the scandal ridden Hired Truck program.
My Daley, you are a liar and a thief and have committed criminal negligence, at the very least.
And now I will not sit still. Now I will not sit by and watch your successor cut my pension to pay for your criminal neglect. This I will not accept. I will not pay for your flower boxes and sweetheart deals with your criminal pals.
You will not get one cent in reduction of my pension except by one way and one way only:
Over my dead body!
Another very important point is that the City ALSO benefits by not having first responders in Social Security because the City does not have to pay social security taxes for those employees.
Private sector employers pay a contribution to social security for each employee. That FICA tax is 6.2% of the employees salary.
Not having to make that contribution provides a substantial off-set to the City's pension contribution.
Also private employees only have 4.2% of their pay deducted to fund social security. Chicago cops have more than DOUBLE that deducted (9.0%) from each paycheck.
.
We get paid pretty well and our benefits are outstanding. After they try to gut our pensions, watch how they come after what we make and they will probably manage to freeze our pay. We have some rough road ahead. We're going to take some lumps.
Can someone tell me if the media has asked the elected thieves why the government contributions aren't paid concurrent with the employee contribution.
And because it wasn't why funds weren't set aside else where for their contributions.
Also, have I missed the media asking the elected thieves where their pensions stand, or why in fact do part time aldermen even receive a pension.
Didn't think so.
Finally, if you are off probation, go back to school on the city tit and get your next level degree.
Then after you do the two years required after graduation, GET OUT of Illinois. Illinois is not a good place to raise kids.
25 years ago I was given similar advice and failed to heed it.
Well written article. Too bad Chicago's main stream media would rather portray city and state workers as greedy and lazy. The truth is that local governments have been dipping into the pension cookie jar for decades. While the city and state workers were making their required contributions, their government employers were not.
I hate to break it to you, but cops, firefighters, and teachers make waay more than the median income. Teachers in the Chicago area are waaay overpaid. Cops and firefighters are underpaid.
This assumes the people hired are qualified to do the job, which in SWIllinois case is not always true.
Face it they are going to reduce our pensions and you will see the mandatory retirement age bumped up to 67. Can you imagine doing this job at 67? well the general public and certain legislators can ask Maddigan what he thinks.
The pension that we promised has been used for other things because the dems in this state refuse to see the big elephant in the room.
The 2010 census shows that the growing population Hispanics is growing. I am not a racist, however , we cant afford the Illegal population any more. The state and the city are paying for the education and welfare of these people. Hispanic Americans realize this problem as well. Illinoisans of all nationalities have been fitting the bill for these people for years. How can a society pay for schools, education , health care and other programs to keep them here in our state? They are doing it with our pension money. While many states are cutting funding for illegals we are welcoming them to state and city. This problem will not go away until we address the real issue.
I think its time that we cut all benefits off an start looking at helping the middle class instead of taxing them and taking away their pension.
William Atwood's Biography
BOARD OF GOVERNORS William R. Atwood was selected by the Illinois State Board of Investment (ISBI) as its Executive Director in February 2003. ISBI is responsible for investing assets totaling over $10 billion for Illinois' Public Employees Retirement System, Judicial Retirement System, and General Assembly Retirement System. Bill has professional experience in both the private and public sectors, including service on the staff of U.S. Senator Charles Percy and in the administrations of Governor Jim Thompson and Governor Jim Edgar. In 1984 he joined Investment Counselors Incorporated, an institutional money management firm located in St. Louis, Missouri where Bill served as its Vice President for Business Development. At ICI, he was responsible for marketing, client service, and all functions of the firm not directly related to portfolio management. Bill formed Midwest Managed Money Services in 1997 through which he provided consulting services to money management firms working in the public and Taft-Hartley pension plan arenas. He worked closely with equity, fixed income, and real estate investment companies and a variety of institutional plan sponsors.
If the money's gone, it's gone. The state and city are going broke yet our federal government has no money to give us. But they have money to support many foreign countries instead. End foreign aid.
The best case we contribute more. The worst case we contribute more and benefits are reduced. The nightmare they just refund what we contributed and say good luck.
I am so sick of people on the news saying "why do they deserve a pension, I don't get a pension" Well you could have taken this job but you most likely said " why would anyone want to be a Police Officer". That's exactly why we were promised a pension and the possibility to retire at 20 years with 50%. Now you want to take that away. " FROM MY COLD DEAD HANDS"
The security forces (police and military) of a Plutocracy must have an interest in the survival of the regime.
Think about that. You may have to choose a side.
The first step of any pension reform must be to eliminate pension for elected officials.
Governor Walker is making a major reform for elected officials in Wisconsin - they will get the same multiplier as regular employees (.016), not an inflated rate (.020).
It is as immoral to reduce our already-earned, vested pension benefits on the state level, as it is for the Feds to print more money, and thus weaken the U.S. Dollar, to pay back China.
It is wrong in every way. Hate us, love us, or somewhere in between, we are a nation of laws. We are NOT a democracy. We a constitutional republic, which simply means that the majority cannot do whatever they wish to the minority, as would be the case in a pure democracy.
We are in the right, but I fear that won't matter. And we are about to be screwed in a very dishonest, cowardly, and un-American way.
Now the argument that we,as a State, as a nation, simply don't have the $. I don't know that that is the truth. Remember, Rahm, as far as I know, is the only politician, either arrogant enough, or stupid enough, to expressly say words to the effect of "there is no crisin which cannot be exploited." I lean towards arrogance. He is rarely accused of being stupid. But arrogant? Yes, that fits. The hard truth is that this burden should fall on the taxpayers. Period. They should be mad at the State's incompetence and procrastination. Tough words, I know. Hard to sell in a democracy. But, as stated, this ain't no democracy. But when the average guy on the streets, who generally works in the private sectors, says that hard times call for suffering by all, I say, sure, we ALL may have to pay higher taxes. If that private sector guy has $1M in his $401K, then let's put that on the chopping block too. ( I know that won't, and shouldn't, happen). But it is the same moral perversity. You can't change already-earned pension benefits. That like taking back pay you already earned. (Remember you were making $60K per year? Ya, we're going to change that to $50K. Give us the difference!) The pensions of Illinois workers has ALWAYS been drawn from the taxpayers. That is the framework. I noticed a lot of teachers pay 5.8% toward their pensions. We pay 9%. That amounts to a 9% pay cut for our entire career of 20-30 years. As far as I know we pay 25% federal tax on that 9% too. So if 9% amounts to $5400 per year (based on $60k salary) then we paid $1,350.oo in federal taxes. Add to that 3% in Illinois (now 5%) state tax.
We earned our pensions up to the present point in our career. Contract law says so. The Illinois Constitution says so. The pension if funded by the city, backed by the state, ultimately by the taxpayer, and our 9%, then dumped into the market, to be invested by the likes of Daley's in-laws and who knows who else. It is/was our nest egg. Now we are to assume the risk, as public employees, of an incompetent state system, and a volatile stock market. Well, we could not control where the 9% was invested. The average joe with a 401K could chose where to invest his retirement. Those were the rules. It is immoral to change them. So when the tough guy who works in the private sector says we have to all tighten up, I say he's right. Raise my state and city and perhaps federal taxes equally, to pay into the state pensions. That is the way it is. That is the way it has always been.
Do we need a "Super-Duper" constitution to protect the next generation of Illinoisans? I mean, what the hell good is a Constitutional protection then? We already have some law firm that prepared some type of memorandum concluding there exists away around the constitutional provision. I'd love to read it. Is it anywhere on the net?
This is just the opinion of some dumb cop. WHat the hell do I know anyway
With all due respect, "Schoolteachers, state troopers, social workers and corrections officers" are certainly not working for lower salaries than "their private sector counterparts" (ask any paramedic who works a contract what s/he gets paid vs the union firefighters). That said, they are due what they are due. What I don't support is the pension padding that widely goes on, particularly in suburbia.
A well written article. However, he fails to drive home the point that the criminal mismanagement of the elected POLITICIANS is the root cause of this problem and these same politicians are now spending MORE than last year while borrowing against the debt.
How can anyone think that this is sustainable? Can you run your households in such a way? Why are these idiots not held accountable? Where is the spirit of our Founding Fathers when we most need it?
We now have little midgets like Shortshanks and Ballerino who bully grown men while robbing them and their families blind and ensuring they will, if they play by the rules of the thieves, end up with nothing to live on and barely scraping by. They should be pulled out of their offices and paraded down the street in front of jeering crowds.
Instead, we have a mostly emasculated population of weaklings who are too timid and cowardly to stand up for themselves or their God given rights as free men in America. Sheep being led to the slaughter by tiny dancing dwarves.
Demand criminal investigation of the Daley/Vanecko/Conroy/Guilfoyle clan.
Demand this of every campaign worker that knocks on your door this weekend. Answer the door, engage them, and use their time.
You deserve the same benefits these people get.
Your family deserves the same quality healthcare Daley's wife gets.
they will get exactly the police force they deserve.
2/19/2011 12:49:00 AM
No, they will get the police force they want, a private unarmed security force paid minimum wage with no benefits. that is what they WANT... they don't want a police force.
the bottom line is ALWAYS the $$ and if they want if for something else, like - lets say free schooling, lunches, rent and food for all the illegal aliens here, they will put it there, they would RATHER give our hard earned tax dollars to illegal aliens or 4th generation welfare people than have a very expensive police department...
***There must be SOME reform. I pay $350+ a month for health insurance in retirement which devastates my pension income. Yet, reportedly, 89% of retired govt workers have health coverage as part of their pensions (which is paid for by taxpayers);
Don't lump law enforcement, especially chicago into that picture because the majority of retired police officers are paying close to 1,000 per month for health insurance, have NEVER had the opportunity to PAD our pensions... we are not part of those 89% of government workers, we have always had to contribute to our pension, and the city has routinely NOT put in their portion. When we were hired, we were told many things that are no longer true, just like the public sector. We were told we would have FREE health insurance until we went on medicare, even if we retired after 20 years at 50 years of age, that is absolutely NOT the case now. In fact, those who abhor the public sector unions, we did not pay a penny to our health insurance until AFTER we started collective bargaining with a union representing us.
As far as I know we pay 25% federal tax on that 9% too
we don't pay tax on the pension money taken out, at least not since 1983 or so.
How about charging $50 for every non-emergency 911 call? $25 for "Boo won't go ta school" calls. Got to keep the voter base happy.
2/19/2011 12:15:00 AM
Most of the calls are from welfare / non tax payers... not collectible
They want us to sacrafice now just like the rest of the general public. Ok well when things get better and the general public gets raises and profit sharing and other bonus money, will they restore our pensions? Hell no. They are using this as an excuse to union bust and make public service on the same level as working at Walmart. I thought Obama was all about public service and such. Well Mr President How come your so silent? Bail us out like GM, don't we deserve it?
I'm gonna work till I'm 63 and not do a fucking thing for the next 25 years. Gonna start collection my pension now while I'm working. Ill be the working retired.
For you Tea Party types who like to rant and rave and post here be careful what you wish for.
You can ride the Tiger, but at some point you have to get off. Kitty food.........yum.
What most civilians don't realize is that Chicago cops aren't paying into social security, what we get SS wise will be small. We rely almost entirely on pension income past age 65.
We're policing a city that can be described as "A Tale of Two Cities".
A prosperous slowly expanding core and north side and a decaying, emptying out south and west sides.
The question is can the prosperous part expand quickly enough to support the needed police services in the decaying parts?
When we have off duty police officers being killed over motorcycles in formerly safe and middle class black Chatham I say the answer to that question is obvious.
180,000 blacks voted with their feet and left this fine city. Some of them were the project types that we don't need. Good luck suburban police departments!
More of them were the working and middle class types sick of the crime and schools.
Hold on boys and girls cause this rodeo is just gittin' started.
kg said...
The first step of any pension reform must be to eliminate pension for elected officials.
Anonymous said...
Daley skipped 17 of 22 pension matches/payments, yet it is the selfish city employee that caused this. How about someone asking Daley why he skipped the payments?
2/19/2011 12:12:00 AM
How strange that someone who in good faith expects a pension would deny to someone else who expects a pension in good faith.
As has been stated before by several people on this blog, the city is up to date in its contributions. The problem is that individual and city contributions have not been increased in many years. The pension fund is not insolvent, but it is using assets to make required payments.
Anonymous said...
Daley skipped 17 of 22 pension matches/payments, yet it is the selfish city employee that caused this. How about someone asking Daley why he skipped the payments?
2/19/2011 12:12:00 AM
Is this statistic cited anywhere? I have searched this issue, but am unable to find information. If it true, there may be criminal malfeasance issues.
The issue in Wis. is about emplyees willing or unwilling to put more into their pensions and pay more for their health care. Unfortunately, this is all being lumped into a pension issue that will be used to place the failure of decades of corrupt politicians and deals upon us. When you go the store and pay 30% more for a gal. of milk you don't stage a sit-down demonstration. We backed Lisa on the promise of 80% after 30 yrs., we backed Daley, and the FOP told us to back Clinton. So where are the politicians that told us everything was fine? Now, these are the guys telling us to bend over and take it in the butt. We have nobody to blame but ourselves for being Democrats for so long. Nobody stood up to Daley,Blago,Quinn, and now Tiny Dancer. Our children will remember us as fools.
When I took this stupid job I signed on KNOWING that I would be trapped living in this city. KNOWING that I would work crazy hours. KNOWING that I likely wouldn't get promoted. KNOWING that my kids would go to expensive private schools. KNOWING that I would be putting my life on the line. BECAUSE I KNEW THAT MY FAMILY WOULD BE FINANCIALLY SECURE DUE TO A PENSION. Take my pension? Fine. I'll work days, 9-5, weekends and holidays off. And I won't do ANYTHING dangerous. And I'll move to the burbs. FAIR IS FAIR.
How Can I Accept The Erosion Of My Pension Benefits ?
I See People At Jewel Food Store Everyday. Their Shopping Carts Overflowing With Food Items. Many Are Pushed By Veiled Individuals. They All Appear To Be Very Well Fed. Many Give Me Dirty Looks, When I Watch How They Are Paying.
All Are Paying With Link Cards or Some Time Of Coupon Books.
I Went To The Social Security Office Yesterday, To File For My Social Security Benefits. They Will Not Be My Full Benefits, Because I Fall Under The WEP Provision.
The Office Is Filled With Foreign Speaking People. They Are Much Younger And Stronger Than Me. Why Are The Here ? Are They Getting Some Type Of Benefits, That I Am Not Entitled To ? I Suspect They Are. I Saw On The News Yesterday, Where People Are Getting Social Security Disability Benefits, Because They Are Depressed. Hey I Am Depressed, That They Are Getting Social Security Benefits. The Story Goes On To Say That Many People Are Receiving Disability Benefits, And Are Working Full Time Government Jobs. The Social Security Boss, Goes On The News, And States He Has No Way To Monitor Fraud In The System.
Last Week I Went To North Western Hospital. The Doctors Office Is Filled With Foreign Speaking People, And Entire Families Are There. They Are All Laughing, and Having A Great Time. I Thought They Did Not Have Insurance. Who Pays For Their Care ?
I Walk, and Ride My Bicycle Around The Northwest Side. I See People Living In Apartments, and Driving Nice Cars. I Suspect Many Do Not Work. Who Pays For Their Rent, and Automobiles ?
If The Government Can Prove To Me That We Are Not Throwing Away My Tax Money, I Will Accept The Fact That My Future Pension Benefits, May Have To Be Reduced.
The pols should offer up their fat pensions FIRST!
From a retired P.O.Had my taxes done yesterday and was informed by my accountant that starting in 2015 the State of Illinois will start taxing our retirement pensions.These inept money grubbing politicians are out of control.
I started posting here after I retired. It has been almost 4 years now. I have relocated out of state.
When I first stated the fund would be broke 2018 the earliest and 2022 the latest, I was lambasted and told it was "guaranteed" by the state. When I mentioned the investments in cd, cmbs,cds and the rest of the nonsense I am sure no one bothered to educate themselves. When I questioned why so many were concerned with their nickel -dime " retro" check instead of concentrating on the bigger picture, I was again lambasted.
I now think that there are at least 25% of the department " gets it". I certainly hope so.
old retired guy
RE: Assaults on Winnipeg Police Officers
A Mountie once told me that, by Canadian Federal Law, he and other police officers in their country cannot legally carry off duty.
Their weapons have to either be secured at the station, or they are limited to carrying the weapons to/from work.
Unbelievable...simply unbelievable!
" How about someone asking Daley why he skipped the payments?"
*****************************
How about THIS IS A VIOLATION OF STATE LABOR LAWS AND THE PENSION ACT!!!
HOW ABOUT THE FOP PUTTING PRESSURE ON THE PENSION BOARD TO SUE DALEY FOR THESE VIOLATIONS OF STATE LAW!!!!
As Wisconsin goes, so those the world as we know it!! I don't think public pensions are covered by the Pension Benefit Guranty Corporations, which mean we are truely screwed. A significant increase in pension payment, an increase in medical, a freeze on salary, an increase to retirement age, kiss repealing the residency requirement goodbye, now is a time to look for that 3rd job....and 25 years from now the problem will still be around because politicians will still have their hands in the cookie jar.....maybe its time to cut our loses....quit take what ever pension you got coming and find something else to shore up the hole, plus a possible new retirement pension from the private sector, its a gamble, but the odds appears better than whats coming
Any legislator that proposes any change to cut any working-man's pension I would say...
..."YOU FIRST!"
As we speak! they are doing it in Wisconsin and Ohio.
OT Sgt LB 008dist midnights is a goof. His clout is all gone and no where for him to go and bullshit anymore. He is a complete tool merit hack who was next to last on the sgt's test list. What a great merit pick Dugan.
Anonymous said...
With all due respect, "Schoolteachers, state troopers, social workers and corrections officers" are certainly not working for lower salaries than "their private sector counterparts" (ask any paramedic who works a contract what s/he gets paid vs the union firefighters). That said, they are due what they are due. What I don't support is the pension padding that widely goes on, particularly in suburbia.
*****************************
With all due respect, you don't know shit and can't even see the gross errors in your own statements.
#1. State law REQUIRES your child to receive an education until they are minimum 17 or HS equivalent. That same state law REQUIRES that same state to provide that education, which is why 98% of all teaching positions in this country are GOVERNMENT JOBS, idiot. Private education is secondary, and "catholic" education is a CHOSEN form of education run by a RELIGION. There ARE no true "private sector" teachers in any numbers that have any bearing at all on this point.
#2. Comparing State Troopers to what? You idiot.... security guards?
#3. Social workers? This falls under the "stop giving the free money to the chosen poor" category. It's not the government's responsibility to keep your son or daughter high while they wait for their welfare check to show up so they can go get more "real" dope. Public aid is a useless moneywasting tool of the political hacks to give away jobs, you can KEEP those jobs.
#4. Corrections officers....once again you are a fool. There are NO corrections officers working in any private sector jobs, so who do you think you're comparing THEM to now? More security guards?
$5. The lame attempt to compare private sector ambulance drivers with trained & certified firemen who ARE ALSO paramedics, is just that, LAME. You dope smoking bustouts who couldn't find any other real job and couldn't pass the tests to become a fireman WHO IS ALSO A PARAMEDIC, hardly qualify to drive the little old seniors to the hospital to get their medication let alone respond to ANY fire situation OR any just occurred multiple shooting victim calls. Your "private sector" rejects aren't qualified nor are they responsible for the public safety for either FIREFIGHTERS NOR MULTIPLE TRAUMA EVENTS. Therefore, your comparison of your "mother, jugs & speed" rejects to trained firefighters WHO ARE ALSO PARAMEDICS has as much weight as a pound of feathers in this argument. PUBLIC EDUCATION AND PUBLIC SAFETY PERSONNEL HAVE NO PRIVATE SECTOR EQUIVALENT, IDIOT.
Yes THESE are the pensions and pay grades your elected criminals are attempting to kill off so they can complete their two party society plans, much like every other third world contry already has and is trying to get rid of.
Yeah, you keep electing the same criminals into government and watch as they continue to take away every advantage and freedom you have in your life so that only THEY can dictate your movements, actions, rate of pay and living wage.
I'll be busy moving to one of those OTHER countries who seems to be trying to make the necessary corrections to their own corrupt government to make it what the USA was supposed to be, but no longer is.
During their scare tactics they fail to point out that this big property tax increase to pay greedy city employees would hit city employess the hardest. We are forced to live in the city, therefore we would be helping our own pensions with any property tax increase. We lose no matter what. Keep voting FOR THIS SCUM.
prediction city workers pensions will change in 2012 , but we will keep the benefits for time served
25 years and will receive 62 1/2 %
every year after will probobly be 1 % instead od 2 1/2 % a year
under 20 years and you are screwed
25 and over get out asap
health insurtance after june 2013 will double for retireees
pension will be there because young officers will be forced to work until 63 , who knows maybe 65 if city raises the mandatory retirement age
good luck , i'm going this summer befor sh-- hits the fan
Sorry, but we're really not a nation of laws. Only for some and you need a decoder ring to figure out what laws apply to who and when based upon their social-economic position.
Good luck my friends. Good luck.
2/19/2011 01:58:00 AM
it's 1929 all over again.
what comes next?
deja vu.
The security forces (police and military) of a Plutocracy must have an interest in the survival of the regime.
Think about that. You may have to choose a side.
2/19/2011 07:56:00 AM
you will have to choose a side.
This is just the opinion of some dumb cop. WHat the hell do I know anyway
2/19/2011 08:36:00 AM
can you say 'ponzi scheme'?
Instead, we have a mostly emasculated population of weaklings who are too timid and cowardly to stand up for themselves or their God given rights as free men in America. Sheep being led to the slaughter by tiny dancing dwarves.
2/19/2011 08:45:00 AM
here's the 'pick sides' moment.
How about charging $50 for every non-emergency 911 call? $25 for "Boo won't go ta school" calls. Got to keep the voter base happy.
$50???
They could solve the whole states pension problems if they charged the shit heads a quarter a call!!!
So we gonna renegotiate a contract and walk around spouting that we have something in writing like it means something?
Ha!
The last contract was in writing what good did it do? What did those signatures mean? What did all those negotiations mean?
Oh the talks, yes the talks, the agreements. We are fighting for things..Oh we are so proud to be able to do this and that..yeah.
Turns out it was just great theater right?
Funny how when it comes to funding a war or dishing out foreign aid you don't see any politician asking the question "how are we gonna pay for this?"
They borrow the money and do it and send the taxpayers the bill.
The trillion dollar banker bailouts that bailed out William Daley's JP Morgan company among others -- who were the politicians that stood up and asked "how are we going to pay for this?" Were they any?
I mean ones other than the few that put up a straw man fake front argument?
Just print up the money and pay for the pensions that's all -- like Washington printed the money enabling all the JP Morgan bankers to receive huge bonuses.
Way too much emphasis of who's going to pay borrowed money back.
Nations go bankrupt all the time.
The World Bank bails them out. They wipe the slate clean and start over doing the same thing.
Corporations go bankrupt all the time and they are not demonized. They are held as hero's of the people.
Look at all the corp's we've bailed out over the last decade. It's representative of the core American fortune 500 isn't it? The airlines, the automakers, the investment bankers. All the so-called best and brightest this nation has to offer.
Now if they're so smart and savvy why couldn't they run a business without special treatment I ask you?
Yeah...a signature on a city parking meter contract, a towing auto pound contract, a pod camera contract, or whatever... means something.
Signatures on a city employee contract don't mean shit. Okay we'll sign it and just go on and do what we want anyway. There's no consequences. You don't like it too bad.
All we have to do is let things build to a crisis level and use the power of fear that a crisis creates that's all.
2/19/2011 01:58:00 AM
Great Post!!!!!!!!!!!!!
There are going to be a lot of MAD people with guns and legitimate greivances if they keep messing with our lives and our futures!
You will not get one cent in reduction of my pension except by one way and one way only:
Over my dead body!
2/19/2011 06:12:00 AM
Let's push it right back on them. We can't allow these thieving pricks to paint us as the bad guys in this mess. No way they are touching our pension. Time to call for the bastards to be investigated, charged, brought to trial, and thrown into prison for their actions.
OT: Banks threaten debit card spending limit
This is a bit off topic I know but the reason that I submit it here is because it involves William Daley's old employer JP Morgan and it's indicative on how screwed up America is.
Check it out.
The banks are going to put a $100 dollar spending limit on your debit cards regardless of how much money you have in your account!
Don't count on any regulations out of Washington to prevent it...you'll never get past the presidents Chief of Staff I imagine..
http://www.wfaa.com/news/consumer/Banks-threaten-debit-card-spending-limit-116531378.html
We can only wonder what's next. A 30 day notice before you can make any withdrawal? JP Morgan just got done raising fees and wiping out the free checking all it's ex Wamu customers had.
Oligarchs!
Time for our reps to begin preparing for this fight with all the options the law allows
Our children will remember us as fools.
2/19/2011 10:53:00 AM
welcome to the club.
Hold on boys and girls cause this rodeo is just gittin' started.
2/19/2011 10:12:00 AM
who owns the lands commonly known as the 'west and south' sides of the city?
Anonymous said...
RE: Assaults on Winnipeg Police Officers
A Mountie once told me that, by Canadian Federal Law, he and other police officers in their country cannot legally carry off duty.
Their weapons have to either be secured at the station, or they are limited to carrying the weapons to/from work.
Unbelievable...simply unbelievable!
2/19/2011 12:49:00 PM
Fuck Canada was up there fishing when they found out at the border I was an American cop they performed an hour and a half search on my vehicle. I would never give a break to any Canadian socialist.
Anonymous said...
From a retired P.O.Had my taxes done yesterday and was informed by my accountant that starting in 2015 the State of Illinois will start taxing our retirement pensions.These inept money grubbing politicians are out of control.
2/19/2011 12:10:00 PM
++++++++++++++++++++++++++++++++++++++++
Get a new accountant fast!!! In 2015 if the city is not making it’s proper funding of the pension the state will hold money from the city that the state collects and send it directly to the pension fund. That was the reason Daley asked Quinn not to sign the pension bill. Quinn did but now Daley wants a trailer bill to postpone that 2015 date and allow the city to get 50 years to catchup not 40. Your accountant must have gotten his C.P.A. from the same place the Daley get his law degree.
TRP
This is what happens when you trust the government.
Pensions are NOT secheduled to be state taxed in 2015. The governor is forming a commission to restgructure the state tax to make it progressive and taxing pensions will be one of the considerations. As far as social security, under Jimmy Carter, federal law was passed that allows anyone immigrating to the US who is 60 years old or older only has to work five years and earn 1000 per quarter to qualify for full social security payments. And yes, drug addiction, alcoholism and depression qualifies for SSI.
Retired PO Where did your accountant get the infoprmation about taxing our pensions in 2015. Sounds like that is his opinion, not the law. City starts making up payments to our pension in 2015, but I never saw anything in that HB that said anything about taxing our pensions
OT - Former Bear Dave Duerson reportedly committed suicide
http://www.chicagobreakingsports.com/2011/
02/report-duerson-died-of-self-inflicted-gunshot-wound.html
I propose the city charge every offender who gets arrested a flat fee for the processing, car ride to the station etc... Just like the fire dept does with an ambulance ride.. Charge every offender a $150 fee and enforce it in court.. I think this would generate a ton of cash even of only half paid the fine/fee. Moral of the story is... you dont like it?? Too bad, dont get locked up. Sgt. Gogo
Can someone find out how many years the city, CFD, CPD made their matching payments during the years of this capo-regime?
In Wisconsin, Police and Fire are not included in what is happening to collective bargaining and the pensions. They are going after the other state employees. The Democratic legislators who fled Wisconsin should be held accountable. They should be relieved of their duties if they don't want to do their job. Right or wrong, agree or disagree, they were voted into office to represent the people, not run away. Stand up and vote against the legislation if your against it. Is this what it comes to now, if we don't like it, all the politicians will run away and not allow a vote to be taken. Don't come to Illinois to hide you cheesehead politicians, get the fuck back up North and DO YOUR JOB!!!!
take the city to court and sue for money that should be put in pension funds.
When civil unrest hist the streets of Chicago, do you really believe that cops will side with the politicians who are screwing us? When those mobs come for the thieves on the fifth floor, the cops will be handing them the keys.
read scc 30 may 09 re pensions
I don't hear anyone saying hey what about the public employees when they were getting 100k+ bonuses. No one said share the wealth. They said if you want to make more money then you should have gone into private sector. Now that times are hard suddenly its share the pain time.
RE: Assaults on Winnipeg Police Officers
=======
Their mother country doesn't even carry weapons....on duty or off.
Fuck the State worker who pay nothing towards their health insurance.As a retired P.O I'm paying 700.00 a month off the top of my pension for me and my wife.No pity here.
Totally off topic but what the F*$! Is J-flop doing on the news conducting press events in a scrubby yellow sweatshirt???? How does he expect ANYONE to take him seriously if he can't even change out of his pjs?????
On Tues and Wed. of this week Illinois will attempt to sell close to $4 billion dollars in bonds to make pension payments with.
It will be interesting to see how much interest the bond buyers will demand for their money and if we will get enough bids for the entire $4 billion..
The NYT has a nice piece
---clip---
Illinois Pension Bonds to Test Investors’ Faith
Check out what they are saying is in the fine print!
Right or wrong, agree or disagree, they were voted into office to represent the people, not run away. Stand up and vote against the legislation if your against it. Is this what it comes to now, if we don't like it, all the politicians will run away and not allow a vote to be taken. Don't come to Illinois to hide you cheesehead politicians, get the fuck back up North and DO YOUR JOB!!!!
2/19/2011 07:57:00 PM
you obviously don't understand the copious rules and procedures under which legislatures operate.
by hook or by crook.
There are going to be a lot of MAD people with guns and legitimate greivances if they keep messing with our lives and our futures!
2/19/2011 04:01:00 PM
get real.
I hope someone gave those Wisconsin guys a ticket for speeding,"You know what I'm sayen"
--I don't hear anyone saying hey what about the public employees when they were getting 100k+ bonuses. No one said share the wealth. They said if you want to make more money then you should have gone into private sector. Now that times are hard suddenly its share the pain time.--
#1, the only payrolls that have been expanding for a long time are public payrolls. #2, wages for something like 90%+ of Americans have been stagnant for several decades. Our entire economy is a gigantic debt bubble, and now or later it collapses. Just as an example, this year we are on track to borrow 1.7-2.0 trillion at the national level. The tea-party wants to cut spending, and they can barely find 100 billion to cut. Imagine what it looks like when they have to balance the budget. Now imaging what it looks like when they have to balance the budget AND start repaying the 14 trillion national debt while paying pensions and social security and medicare/medicaid that has NEVER been saved.
Very few people in this country make 100K plus. I'm one who does, and I'll contribute whatever is asked, but there will never be enough to pay it all. Its a Ponzi scheme, the whole thing.
If you have been watching the news and the protests in WI you will see a new wave. First the Gov. is there to work for the people not against them like he has been doing. Second the Tea Party is protesting against the public employees. The reason, the media and politicians like Daley who are consistently trying to pit the citizens against ea. other, when Daley said property taxes would skyrocket. They are all using the scare tactics and nothing good came come of this in an already fragile arena. Similar to the shootings in Arizona when people were blaming the Tea Party for their rhetoric, the politicians will be responsible for spewing their negative rhetoric. It's time for the politicians to step up to the promises and the futures of all of us and stop trying to weasel out of their moral and ethical responsibilities.
The reason we are in this situation is the politicians spending. We are not going to be held responsible for this, they are.
The politicians are attempting to show solidarity during Obamas state of the union address, however politicians like Daley continually stand up and condemn the unions and city workers. History attempting to repeat itself when union busting was going on. And how many millions of dollars was it reported Daley's bother made?? The politicians are so wealthy they are out of touch with workers and reality.
In other news Bill Daley ex JP Morgan banker exec, is doing just fine. He released his 43 pages of financial disclosures statements where he states he was earning about $20 million dollars.
Rahm made $18 million dollars and could not really explain what he did to deserve this kind of money
For years it has been said the upper class want control and to achieve this they need to keep the middle class down which they have done over the years. An article by CNN tells the story how the wealthy in this country became 33% wealthier over the last 20 years and the middle class stagnet over the same period.
Ex. the Gov. in WI and what he is trying to do to the middle class
The best case we contribute more. The worst case we contribute more and benefits are reduced. The nightmare they just refund what we contributed and say good luck.
I am so sick of people on the news saying "why do they deserve a pension, I don't get a pension" Well you could have taken this job but you most likely said " why would anyone want to be a Police Officer". That's exactly why we were promised a pension and the possibility to retire at 20 years with 50%. Now you want to take that away. " FROM MY COLD DEAD HANDS"
I agree, if you listen to the politicians they want to scew us over but also say we must be residents because we are the backbone of the neighborhoods and offer protection even off duty. Wake up people cant have it both ways. Fix the problem!! Stop the bs panic, there are ways to fix it and the politicians know it, thats why there is a divide. Open the casinos is only one way, there are numberous more.
From what I read the Gov. in WI is not including the police and fire in his attempts to take away collective bargaining??
Listened to wls radio tonight goofy eddie and jobo,talking about police pensions being well over 100K What a couple of rich assholes, no clue where these idiots got their info from! HEY MORONS ONLY THE GOLD BRAID BOSSES GET HUGE PENSIONS,AND ANOTHER SIX FIGURE JOB NOT US!
Protect yourself! 023rd District used to be a fun district to work at until Captain Lemmer brings down the entire 3rd watch with his stop missions, and his nonsense ideology on "how to be the police" can someone have this Capt sent to the behavioral modification program?
2/19/2011 12:29:00 AM
Having worked in 023. It seems the slower the district the more micromanaging goes on. In the ghetto it's the citizens I can't stand. In slower districts it's the POs and bosses I can't stand.
When civil unrest hist the streets of Chicago, do you really believe that cops will side with the politicians who are screwing us? When those mobs come for the thieves on the fifth floor, the cops will be handing them the keys.
2/19/2011 08:16:00 PM
Bingo.
I hope our politicians realize this.
To Anonymous 2/19/2011 08:36:00 AM
"...We already have some law firm that prepared some type of memorandum concluding there exists away around the constitutional provision. I'd love to read it. Is it anywhere on the net?"
The memorandum to which you refer is available here along with a counterpoint to same:
http://blogs.chicagotribune.com/news_columnists_ezorn/2010/04/counterpoint.html
john said...
"I started posting here after I retired. It has been almost 4 years now. When I first stated the fund would be broke 2018 the earliest and 2022 the latest, I was lambasted and told it was "guaranteed" by the state. ."
In Greek mythology, Cassandra was given the gift of prophecy but fated to always be ignored.
Join my 12-step support group, John. Here's how we start our meetings: "My name is _____ and I'm a Cassandra."
"Hi, ________!"
It is an unenviable role. There isn't even the childish satisfaction of "I told you so" for the person fucked along with the rest.
For so many years now, your peers would have you believe you are Chicken Little mistaking an acorn on the head for the sky falling when, in fact, it really was falling. Those 'aint acorns that Atlas is Shrugging; they're turds. Your fellow Officers are just now starting to see it. I don't know if it's too late or not. There are some very insightful comments posted here today by our brethren. Either way, welcome to my nightmare.
What pissed me off is that much of the public doesn't know that we put 9.5% of our check into the pension. And that is required. Its not like we had a choice to get into the pension or not. If we lose our pension, we should sue. If my money was not guaranteed and was going to be stolen and mismanaged, I would have rather managed it myself.
Hey, does anyone know what Shortshanks pension and benefits will be when he leaves? Just wondering what his "retirement" package looks like.
023 Capt Lemmer has much to deal with,sgt and PO loving relationships exposed,medical abusers incompetent officers... the list goes on and on. Its a circus over there and he's the Ringmaster.
Anonymous wrote "They want us to sacrafice now just like the rest of the general public. Ok well when things get better and the general public gets raises and profit sharing and other bonus money, will they restore our pensions? ..."
Things are not going to get better.
"We Are In Deep Trouble, and It's Way Too Late, To Be Afraid"
Stay Close To Your Family, and True Friends.
Try To School Your Children, in The Ways of The World, Without, Freaking Them Out.
Keep Yourself Healthy, and Strong.
Remember The Only Thing In Life You Can Really Control, Is Yourself.
Controlling Yourself, Is The Most Important Thing, In Times As These.
The World Has Gone Through, Much More Difficult Times, That This.
You Can Survive, Even If Your Pension
Does Not.
jfled maybe be collecting $$ for wearing haley t shirt at press conference , it's da chicago way
Anonymous said...
Can someone find out how many years the city, CFD, CPD made their matching payments during the years of this capo-regime?
2/19/2011 07:25:00 PM
Just check the pension board annual report, it is all in there. As far as CPD goes, the short answer is all of them.
If you are paying over 700 a month, it includes you, your spouse and children. Neither of you are on Medicare either. It goes down signicantally when you go on Medicare. You should get out more though. I have several neighbors that well over 1000 dollars a month for health care with nowhere the benefits we have. All from the private sector of course.
O/T..hey 023 officers..come to 017...not only do you have to watch out for the bosses but your fellow officers will stab you in the back while smiling and wishing u a good day to ur face....only in the slower districts does such nonsense prevail!!
Anonymous said...
How about charging $50 for every non-emergency 911 call? $25 for "Boo won't go ta school" calls. Got to keep the voter base happy.
Thats funny. Do the ghetto rats pay for anything?? They would have to tax the middle class even more to pay for the ghetto 911 calls!
Why do Aldermen get pension for a part time gig? How do you get a freaking multiplier for a gig that you work weeks for? 80% pension after just 4 years? Stop elected officials pension, stop school administrator pension. Just my two cents. Not a cop but my dad was a paramedic if that counts.
The one thing that the public must know about us that we are not Sheeple. BEWARE.
Haley should pay him NOT to wear them because knowing this no one in law enforcement or anyone possessing a functioning brain will ever again sport garments with a "HALEY" tag.
Joe Hill said...
nice post
The one thing that the public must know about us that we are not Sheeple. BEWARE.
2/20/2011 09:47:00 PM
woof woof.
Schicklegroover
I am too old to be the " I told you so" type. I do think some of the officers are becoming aware that the most valuable asset they will ever have is the pension. I do wonder if some of these younger ( under 60) actually think they are going to get these pensions?
old retired guy
Anonymous said...
023 Capt Lemmer has much to deal with,sgt and PO loving relationships exposed,medical abusers incompetent officers... the list goes on and on. Its a circus over there and he's the Ringmaster.
2/20/2011 10:55:00 AM
A circus will inevitably run amuck when a clown is appointed to be the ring master.
2/19 11:14 am--- the best post on this thread---- if you want to treat police officers like they are the garbage man then that is what you will get, garbage..... we work 9-5 and let all these know it all beefers saddle up and work the 1st and 3rd watches---
Did a short stint in 023 five yrs ago, sounds like its gone down the tubes even more since then.It was always a strange place to work, but sounds like it turned into a brothel,high school and social club all in one now.
Anonymous said...
What pissed me off is that much of the public doesn't know that we put 9.5% of our check into the pension. And that is required. Its not like we had a choice to get into the pension or not. If we lose our pension, we should sue. If my money was not guaranteed and was going to be stolen and mismanaged, I would have rather managed it myself.
2/20/2011 07:46:00 AM
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
1. You only put in 9% not 9.5%!
2. Even if you put in all you money into the top 401K each and every year for 29 and a day W/O the city's 2 for your 1 you will be broke in just a few years. Unless you plan to die in just 7 or 8 yrs after retirement.
3. Our pension funding is based upon actuary charts that are more than 4 decades out of date.
TRP
I tried to think of a single place I ever worked that didn't have an illicit relationship between a Supv. and a PO, A few medical abusers or malingerers as we called them when we saw them at the tavern, and incompetency has always been the order of the day in Chicago. How about a Kleptomaniac? Got one of those? Most units do.
When someone tries to tell us what the future may hold for us, arguing with him doesn't change it but it will keep him from sharing his opinion with us. I'd like him to continue playing devil's advocate. I want to prepare for the worst possible scenario. It's not like I'm going to be able to run out and get hired when coppers ten, twenty yrs younger are also looking.
--I don't hear anyone saying hey what about the public employees when they were getting 100k+ bonuses. No one said share the wealth. They said if you want to make more money then you should have gone into private sector. Now that times are hard suddenly its share the pain time.--
#1, the only payrolls that have been expanding for a long time are public payrolls. #2, wages for something like 90%+ of Americans have been stagnant for several decades. Our entire economy is a gigantic debt bubble, and now or later it collapses. Just as an example, this year we are on track to borrow 1.7-2.0 trillion at the national level. The tea-party wants to cut spending, and they can barely find 100 billion to cut. Imagine what it looks like when they have to balance the budget. Now imaging what it looks like when they have to balance the budget AND start repaying the 14 trillion national debt while paying pensions and social security and medicare/medicaid that has NEVER been saved.
Very few people in this country make 100K plus. I'm one who does, and I'll contribute whatever is asked, but there will never be enough to pay it all. Its a Ponzi scheme, the whole thing.
Wait a minute now... I can remember just 11 short years ago when I took this job, there were plenty of friends and relatives giving me shit about taking a job that payed $33,600 per year as a lowly public servant when they were making 80k a year and getting 50 thousand dollar Christmas bonuses in addition to hundreds of thousands of dollars in stock options during the DOT.COM craze. I was 27 at the time and had 18 year old punks doubling and tripling my salary, laughing at my "stupid choice" of a profession while they were working from home and vacationing in fucking Hawaii. I slowly got my step and contract raises while their companies went bankrupt, their stock shares plummeted, and they lost their jobs because the DOT.COM bubble burt along with some other bubbles like the housing market. I remember that too... all the fucking HOUSE FLIPPERS running around buying up crap and selling it for huge profits... until they got stuck with 5 crap properties they overpayed for that nobody wanted to buy. So you'll have to excuse me for being totally disgusted when I hear these same people now crying that we're greedy police with a too generous pension (that we've been paying 9.5% of our salaries into by the way) that are making too much money. I don't recall getting any bonuses or huge raises when times were great and people were throwing money around like it was confetti. On the contrary, the city fought us tooth and nail on every fucking contract over wages and everything else. I pay my mortage on an overpriced house in the city I'm forced to live in, I drive a shitty car, and I can barely make ends meet. I'm not complaining about these things and I never have but leave my fucking pension and benefits alone. I was promised them, and I earned them. They were one of the reasons I took this shitty job that very few other people wanted 11 years ago when times were so much better.
2. Even if you put in all you money into the top 401K each and every year for 29 and a day W/O the city's 2 for your 1 you will be broke in just a few years. Unless you plan to die in just 7 or 8 yrs after retirement.
Are you smoking crack? If you put all that money over 29 years into an S&P 500 index fund you would probably have close to a million fucking dollars due to compound interest when you were done. Instead we have a broken pension fund that's about to go bankrupt that the politicians are now talking about STEALING from us. I too would rather have taken my chances investing that money on my own instead of paying into this shit that is appearing more and more each day like it's going to be stolen right out from under me.
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