FOP Reads the Blog
Trustee Rich King left a lengthy response in the "Buses to Springfield" posting. We're giving it its own thread since it contains a lot of valuable information:
- The bill authored by Rep. Cross from Oswego is nothing more than an attempt to circumvent the law that was passed by the legislature in Springfield forcing the city to live up to its obligations and bring the Chicago Police Pension Fund up to 90% in 30 years. Since its passage the city has introduced several bills attempting to water the bill down by extending the 90% target date to 50 years and failing in that attempt 40 years. Some of the city's legal minds have found a loophole that renders the law ineffective if the pension board does not request that the city's sales tax revenue be withheld if the city does not provide the funding that an appointed pension actuary says is necessary to reach that 90% funding level.
Rep. Cross who's district is in Kendall and Will County has no Fire and Police agencies in his district that will be effected by this bill (HB 3827), yet he had chosen to champion this cause. He claims that it would be in the best interest of the Police Pension to have the Mayor of Chicago be in control of how our funds are invested.... Has he never heard of the former Mayor's Nephew by the Name of Vaneko. All the Mayor's appointed Trustee's voted to give the Mayor's Nephew over 15 million which is now lost.
Over all the city pension fund I believe the mayor's Nephew got over 62 million which again was soon lost. Is Rep. too young to remember former Mayor Harold Washington's attempt to use the Police and Fire Pension funds to fund low income housing. Does anyone doubt what a financial disaster that would have been ?
If the Mayor had a permanent 4-3 majority that would have been passed and our fund would be in even more trouble. Rep. Cross wants you to give control he says to the Mayor who will better invest our funds, this being the same Mayor who has such a short memory that he can't even remember his involvement, as President O'Bama's Chief of Staff, in the disastrous Cylindra scandal that cost the American Taxpayers over 500 million ! yes Rep. Cross this is the man that needs to be in charge of our Pension Funds.
Who are you kidding Rep. Cross from Oswego. I am sure down the road we will find out what kind of deal has been struck between you the republican House Leader and our new Mayor, O'Bama's former Chief of staff. How does the republican National committee feel about your cozy deal with Rahm ?
FOP members politicians only fear our votes. We must show them that we are a force (voting Block) to be reckoned with. I can not stress the importance of defeating this bill. This bill will influence many things including future cost of living increases. If there is any way that you can get on these buses down to Springfield to show our strength I urge you to do so, even if you have to miss a day of work on your side job or a Dr. appointment etc. If not instead of showing these politicians our strength we show them our weakness.
To make it as convenient as we can to get you to come out and stand with us, we have arranged to have a bus leave from the 22nd District at 8:00 am. Please call FOP at 312 733-7776 and say you will stand with us down in Springfield, We need to put on a show of strength. Your Pension hangs in the balance.