Cutting Retiree Benefits
- Retired police and firefighters from Central Falls, R.I., have agreed to sharp pension cuts, a step thought to be unprecedented in municipal bankruptcy and one that could prompt similar attempts by other distressed governments.
If approved by the bankruptcy court, the agreement could be groundbreaking, said Matthew J. McGowan, the lawyer representing the retirees.
“This is the first time there’s been an agreement of the police and firefighters of any city or town to take the cut,” he said, referring to those already retired, who are typically spared when union contracts change. “I’ve told these guys they’re like the canary in the coal mine. I know that there are other places watching this.”
As cities, towns and counties struggle with fiscal pain, there has been speculation that they could shed their pension obligations in bankruptcy. Some have said it might, in fact, be easier for local governments to drop those obligations than it is for companies, which use a different chapter of the bankruptcy code.
Granted, this is a agreement, probably one of those "all or nothing" type deals that forced the retirees to take what they could get so they didn't end up with a court battle that might net them nothing at all.
You can bet the bank Rahm has already run some of these numbers and is watching the outcome of this very closely.
You can bet the bank Rahm has already run some of these numbers and is watching the outcome of this very closely.
Labels: pension
posted by SCC at 12:02 AM
100 Comments:
The pensions are done and a 401k is not going to be any better. You lay off people and dont hire what do you think is going to happen . I will give it 18 months until we see it gone....
The "55 & free health benifits" will be the first to falll. We will end up on "Obama Care".
Well if they try and take my near retirement benefits away, I say revolution. I am armed and would be very angry to say the least.
I've posted about this case in Rhode Island about a month ago. It will set precedent for other states and municipalities to copy. Imagine current retirees taking a 50% cut to their benefits. What are the end arounds for retirees to make ends meet? Divorce, for legal purposes, a spouse and have the spouse collect welfare and food stamps and then live together without being "married."
The fabric of police departments, particularly CPD, is being un-wound by career corrupt politicians. Remove the carrot of a fully funded pension from current active members and what happens? You think the morale and production is low now? Just wait to see what the "working police" will do if our pensions are cut. There won't be a boss on this job that will be able to ask an officer, team or unit to go out and generate numbers. There isn't a boss who would be able to motivate anyone to work, because the only real long term motivation is money and retirement. Take those away and the city will turn into a 3rd world country in terms of crime. There WILL BE a complete laying down on the job beyond what is currently being seen. The very fabric of a civilized society has been shredded by thieving, corrupt politicians, I wonder when the revolution will start in this country? Maybe sooner than we all think.
"You can bet the bank Rahm has already run some of these numbers and is watching the outcome of this very closely."
If Rahm bankrupts the city, his political career will be toast.
If you give a man nothing to lose, don't be surprised when he acts like a man with nothing to lose.
If you read the article you will see that they ( The city in RI) wanted to make the bond holders secure and fuck the PO and Firefghters even more.
This piss me off! Big time! I spend nearly 20 years putting in around 9% of my pay into a pension where the city does not put in it's share of, what, 2%? And I get screwed!
FUCK THAT!
If I was in the social security program, the city would have to match my 6.5% with 6.5%. 6.5% is defintely higher than 2%.
The media and the citizens have such wrong information on my pension. The politicians rob my pension and then blame it on me. The asshole big bosses double dip into the pension and they blame the pension problems on me.
Again, I say, FUCK THAT! The citizens received the benefit of MY money when they had their politicians "borrow" from my pension to pay for roads, schools and to line their own pockets!
IF we the police officers of this state are called to give up what was promised to us, I say, let's take a page from the Occupy Wall Street movement and show the politicians and ignorant voters what true civil disobedience looks like!
Those retires in Rhode Island are being fucked!
I for one will not stand for this from the elected officials in Illinois.
If the media does not want to report the truth, if the politicians don't want to do the right thing, if the citizens who have asked us to risk our lives don't support us, then let's take things into our own hands.
I say to the politicians and especially to the mayor, beware of pissing off the people you call upon to protect you and do the dirty work of keeping order in this democracy. It would be a horrible thing to see cops across this state protest in acts of "civil disobedience".
As for those cops and firemen in R.I., do not give into these elected crooks and thieves. This fiscal crisis was not brought about by the working cop and fireman, but by the clout heavy and the greedy politicians.
I am definitely tired of this and something better change for our good and our benefit.
Well, the legacy costs are what keeps us from being competitive.
If we could just break all our contracts we could be in the black in no time.
We will need to increase our security costs, of course.
Let those Chicago thieving Democrats take MY pension I already paid for. I'll expect a POUND of FLESH!
Da Rah calls himself a Dem pro union. But he really is a wolf in sheeps clothing! Hey its his world and what the hell are we doing in it!
Phil Schitz here said...
The "55 & free health benifits" will be the first to falll. We will end up on "Obama Care".
12/24/2011 12:22:00 AM
Yer not a cop "Phil".... Remember?
Yeah, "we"...
They will most likely try and sell a bullshit 401K plan by telling everyone that "this will enable you to have more control over your money"
Why are they going to give you more control over your money after all these years?
Because the growth game on Wall Street that enabled the people managing the plan in the past to skim management fees off the top is all but dead.
The easy money is gone. We'll give you control now and when you pension doesn't amount to a hill a beans we can then push the blame on you telling you that you made the wrong investment choices..
Heh...and what investment choices does anyone have? A 2..maybe 3 percent interest government bond where the interest rate is not even keeping pace with inflation?
Or you can pour your money into multi-national corporation that are selling out the country by shifting the US jobs and tax base offshore and demanding that you and I pay more in taxes and they should have more tax breaks in order to buy the politicians.
It's eff'd up.
Think Madigan
The frauds and thefts go on. Don't try to step in the streets to protest it though because the police will protect these lawbreakers and arrest you instead ...
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It wasn't the first time the company went after its customers for debts that had been snuffed out in bankruptcy, even though the practice is illegal. A court-appointed auditor concluded earlier this year that Capital One pursued 15,500 "erroneous claims" seeking money previously erased by a bankruptcy-court judge.
If you do something 15,500 times it's just a mistake right?
They're just going to keep breaking the laws and extracting money from you and me and our savings and retirement until we are busted.
From the publics perspective the politicians are protecting them and the police are protecting them by trying to shut up the people demanding justic about being robbed.
This, I don't think is going to end well on it's present path. Time will tell though.
I for one would never vote to take a cut to my pension. I put too many years of my life into the job through the good and bad times.
I think it was during Nixon's term of office that there was a wage freeze in federal government jobs, and Richard M. Daley said "why not" and also froze our raises. It was not because the city was hurting, it was because Daley could do whatever he wanted.
I'm not trying to be selfish, it's just that the powers that be never say "let's cut welfare" or give these do-nothing motherfuckers a broom and say "sweep the streets to earn some of what we give you," no it's let's fuck the pension approved jobs. "Let's fuck the working stiff."
Beware City Council if you try this shit.
Yeah and you've all seen the latest hype about unemployment claims falling and the main stream media telling us that the economy is S-O-A-R-I-N-G!!
Well guess what?
If that's the case why is this happening to wages?
--------
Private wage and salary disbursements decreased $7.1 billion in November, in contrast to an increase of $37.2 billion in October. Goods-producing industries' payrolls decreased $6.7 billion, in contrast to an increase of $8.6 billion; manufacturing payrolls decreased $6.9 billion, in contrast to an increase of $6.8 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an increase of $28.5 billion. Government wage and salary disbursements increased $0.1 billion in November, the same increase as in October.
http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm
not to worry, he took care of gm, and the banks, the imf. as long as the press keeps printing,no problem. for people that dont like capitalism, wait till they see socialism. but dont fret, malia and sasha will be taking care of.
Phil Schitz here said...
The "55 & free health benifits" will be the first to falll. We will end up on "Obama Care".
12/24/2011 12:22:00 AM
**************************************************
1. Elena Kagan will recluse herself so the individual mandate is not going to pass muster.
2. The only way to lose the 55 and out health care is by arbitration. On 01 Jan 12 a PO with 25 years makes 86130 and a new hire makes 43104. Get any PO to leave three years yearly would pay his monthly premium till he or she hits Medicare age multiple times.
3. RI pensions where not in the State Constitution as deeply as ours are. If everyone was paying attention three years ago all of the unions where pushing hard to not approve a Constitutional Convention. If this winds up in court we will be winners on that point. State Senate President Cullerton had already had a study commissioned on this and it has been deemed unconstitutional. That report will be the foundation for any response we have to make in court.
T.R.P.
Now I can understand why Illinois is the only state in the nation that prohibits decent, law-abiding citizens from concealed carry. The corrupt politicians have every reason to be scared to death of decent, law-abiding citizens including police and fire, active and retired.
A Glock with plenty of ammo makes for a wonderful Christmas gift.
Tick-tock, tick-tock...
These "powerful" people are going to have a revolution on their hands, and the revolutionaries are going to be the people that the powerful expect to protect them! Good luck you cocksuckers!
I am one pissed off motherfucker. And Im not pissed at the savages.
No big deal, next contract everyone will be complaining about not much of a " retro" check.
If the pensions are going to go and they INCLUDE the pensions of the same pensions of the fat cat politicians and their families it will never happen. No way we are going to let these selfish politicial pricks steal our pensions and keep theirs.
Wonder how Gov. Quinn's group of state politicians and union leaders are doing trying to figure out this pension mess. What a complete fucking joke! The same selfish greedy bastrads that made this mess are being asked to now study it for solutions.
Phil 12::22 -
You need to head your head out of you ass. The 55 and out health care is paid for with funding from for the Affordable Care Act aka "Obamacare" - the city sent you a letter explaining that. The funding was supposed to last until 1 January 2014, when the State Health insurance exchanges start- and yes- there is no doubt the city will have us either pick from the exchanges or pick an exchange for us. The State is already working on it. The Korshak decision is opened up in 2013 for further negotiations. Coincidence? I don't think so. And the funding that was supposed to last until 2014? Completely dry as of last July 2011. If you think those "I love deadlock" Republicans are going to vote to increase funding-don't bet on it.
tick tock tick tock.......the bankers and politicians screwed the working man, guns and ammo people the shit will hit the fan soon!
As long as the politicians pensions, the mayors, governor and all the way down are dealt with the same way, then so be it, everyones pension should be on the table, if not, we take them down with us.......
Anonymous said...
This piss me off! Big time! I spend nearly 20 years putting in around 9% of my pay into a pension where the city does not put in it's share of, what, 2%? And I get screwed!
FUCK THAT!
If I was in the social security program, the city would have to match my 6.5% with 6.5%. 6.5% is defintely higher than 2%.
The media and the citizens have such wrong information on my pension. The politicians rob my pension and then blame it on me. The asshole big bosses double dip into the pension and they blame the pension problems on me.
Again, I say, FUCK THAT! The citizens received the benefit of MY money when they had their politicians "borrow" from my pension to pay for roads, schools and to line their own pockets!
###################################
You are correct that your contribution is 9 percent, but you are wrong about the city's contribution. It is 2 times the total dollar amount contributed by the particiants, 2 years later. It is 2 years later mainly because property taxes are levied 1 year in arrears. As near as I can see the city is up to date on its contributions over the past several years. The main culprits in the fund are the lousy investment climate the past few years, coupled with some stupid investments, and the fact that there have been many enhancements to the pension over the years, earlier eligibility, higher percentage increases for each year of service, the COLA and the reduced number of people paying in. Social Security is not as good a deal and obviously has its own set of problems.
When I started this job I was making something like $12,800 a year. I had friends who laughed at me and questioned why I would ever take a job that paid so little. They ALL made more than me and my family certainly suffered as a result. Over the years our pay went up, but we never got "rich". Guys I went to school with all had nicer house, newer cars, took better vacations, etc., but I always took comfort in knowing I had "job security" and decent benefits. Now that the economy has tanked we've someone become the bad guys. It's like we're to blame for every bad decision every made by the people who HAD MONEY. I'm eligible to retire but can't afford to yet. If the City takes away our pension benefits I'll no longer do a single fucking thing. I won't make arrests, write tickets, nothing. Fuck this place. And they wonder why morale is so low? What a bunch of fucking assholes we have at the helm now.
There won't be a boss on this job that will be able to ask an officer, team or unit to go out and generate numbers. There isn't a boss who would be able to motivate anyone to work, because the only real long term motivation is money and retirement.
Long term motivation?
Won't happen. Retirement is a LONG way down ther road when you are new on the job. The newbies will still be star struck with the ability to work tact or in a special unit. The average copper is on this job for around 30 years and all they think about is NOW, not tomorrow.
Look at some of our past contracts. The minute the city starts waving the retro checks at us, the majority fall in line.
Chicago will raise minimum age for retirement from 50 to 57.
City employees with less than 20 years will be forced into this new
retirement plan.
Anyone willing to accept a pay cut in their pension is a moron!!! Politicians would never have their pension cut. The laws they (politicians) put in place only apply to non politicians. This country hands out money to many other countries all the time, while this country is in need. Civil disobedience is long over due. The disobedience needs to take place across the board including Us (Law Enforcement). Occupy Wall Street does not serve any useful purpose. A revolution will get the point across to those who need a awakening. Someone on this blog mentioned watching "A Tale Of Two Cities" earlier this week. The people took matters into their own hands and did away with the politicians. What a great idea for handling our sad situation here, not only in Chicago, but Our country! Merry Christmas to all, and stay safe !!!!
Old Retired Guy Here;
Thanks For Ruining My Holiday.
The city would have to be absolutely broke for this situation to materialize and that is political suicide for 9.5. We need to realize that our contribution will need to increase and it needs to be framed within the our next contractual negotiation. With the stenghtening of the financial markets from the lows of 2008 we will see the pension funds began to make some money. Every pension fund and endowment fund in the entire country lost vast sums of money. For example Harvards endowment grew 21% from 27B to 32B last year after they lost 8B total. As the markets began to repair themselves the politicians won't be able to use it as a scare tactic. A 3% increase in our pension contribution would be around $100 per pay check, that would be tough to swallow. What is the alternative? A proper two tiered system?
ARE YOU LISTENING YOU GOD DAMN POLITICIANS, you fucking assholes stole, cheated and mismanaged everything for decades, and now you want to fuck everyone else for it. burn in hell you vile scum. rahm, obama, daley everyone else.. you should ALL be hanging from trees you pieces of shit!!!!!!!!!!!!
If the media does not want to report the truth, if the politicians don't want to do the right thing, if the citizens who have asked us to risk our lives don't support us, then let's take things into our own hands.
12/24/2011 02:12:00 AM
If the media does not want to report the truth, if the politicians don't want to do the right thing, if the citizens who [expect] us to risk our lives don't support us, then let's take things into our own hands.
People need to go to jail for what they did to our pensions here. seems like they believe they are untouchable; I'd like the feds to prove them wrong.
offer a copper a nice spot, hell produce even if he is getting screwed
I doubt anyone is looking to you for economic advice there rummy.
I guess while we were all looking forward to becoming a cop, many looked at the "benifits" and weighed the whole carreer out.
We spend 20 plus years, (God willing)working towards a retirement, I mean after years of dealing with all the shit, it was a there to make those days go by...
Now certain politicians want to do what.... walmart our pensions, to take away one of the few benifits that helped make this job a bit easier to get through.
The same asshole politicians should step to the plate first, but you would ever see there pensions touched, except to add more to them.
Time to wake up and vote
50% pension still provides much better than those surviving on social security! Pensions are not suppose to provide a better quality of life than those actively working! Seriously, if you want to make more money, KEEP WORKING! or else get another job! My father was on the job and with his cost of living increases as well as tax shelter he makes more retired at 60 than most full timers!!! Sorry, but pension reform is coming and we had better embrace it! Other option is legislation that kills public pensions and lumps us all into social security...enjoy!
To "01:08:00"... WOW you really nailed it. Think what you touched on about coppers divorcing. This is what the whole ghetto runs on. Democratic policy.....promise these dogs everything for a vote and keep them in the toilets they're so used to living in. No "family" unit. Just keep on sucking on the tax payers. Keep ordering your ammo because when it hits you'll need to protect what they haven't already stolen from you. And to the officers still pushing the beat car..PLEASE stay safe and ALWAYS go home to your families the way you left the house!! GOD BLESS ALL OF YOU!!!
Keep in mind Illinois is Illinois and Rhode Island is Rhode Island. Don't compare apples and oranges. I know what our State Constitutional protections are here. I'd bet more than a paycheck they don't exist there.
And to the moron who made the comment about if he had Social Security the City would have had to contribute more, please don't post anymore comments. You are an embarrassment to us all. Ask those who are on it how it's working out for them, dumrbass.
Before ANY pension is touched, the politicians pensions should be the first to be bankrupted.
That thump you just heard was the chair being kicked away from the hanging ex-operations lt. in mass transit. Lt. C.S.
This goes with any politician...its not going to stop until something happens to them by the people who contribute, and play by societies rules... When that politician is gone because of whatever happens to him, another one is going to take their place. This politician will try to run things like the one before him, same as usual screw over the people who care about this country. Then, when something happens to that second politician, the third politician, and from that point on, will be a little warry......he/she will actually start listening to the people instead of screwing them over.
What it really comes down to is, there are no consequences for anyone's actions anymore. From the top, all the way down. But, now you are taking away peoples lively hood, spirit, beliefs ect.... If no one, like the feds or congress, take action, they are going to force the people to take action. The last thing they would want if for the people ( I mean real people, unlike most of the people from O.C.) to take action. We wouldn't be taking action just to take action. We would be taking action to defend and protect our beliefs,families,rights,morals,and money. It would be a terrifying thing. When you try to cripple a man in everyway you can, you are going to be unprepared for what they are capable of. We are in a time where people die and kill for their beliefs. Our politicians are going to keep pushing the working people in a corner, and soon they are going to come out fighting.
Defining times...stay safe!
1: 13am Rahm was burnt toast in DC before he took the reigns here. The chicago voters, hate to say it, are the stupidest voting block in the nation. Ask master manipulator axelrod, never met a taxpayer bailout we didnt like, pritzkers, bugsy seigal heir, rahm, travellar richie, irish african american, best of both worlds, barry soetoro o'bama, cartel associate solís and the poor saps that actually read this blog, get informed and whose vote is never counted. Remember, folks, the new map is very telling. The UNO three amigos, solís, rangel, and M13 passed on endorsing, Chico, because rangel stated"its not our time yet". Rahm got 2 potential canidates, for the 46th ward, not to run, so he can pull a russian putin and put his boy in. Hmmm, chicago polítics already getting the annoited ready to take over, after rahm finishes dismantling any form of democracy. So you see, if you take burnt toast rahm, add a the UNO rotten egg, you have the perfect combo for this tapeworm of a city. God less CPD, CFD, SCC and every good citizen. Merry Christmas and happy new year.
The cities share is a lot more then 2%, it is calculated at 2 times what the workers put in and 2.2 for firefighters. One of the problems, as I see it, is too early of a retirement age for way too many employees, underfunding by the city and as the Tribune has pointed out, the democrats using the pension system as political payback for the selected few in unions and the political class. There are a lot of elected positions that should not be pensionable, a lot of board of director spots that should not be pensionable. Bankruptcies by city and state governments sometime in the future is a very real possibility.
It sickens me to see x Mayor Daley walking around with his son reaping all the spoils of a corrupt reign as if he earned it all. Did we not have a revolution against One man rule? The people have fallen asleep regarding our democracy!
Daley knew that Obama Care was coming and that is why he "Gave" us the 55 and "free" health. I retired two yrs. ago and will be 65 next month. They will now take over $600 a month to cover my wife and college age daughter, (only till age 22), I also have to pay $200 per month for Medicare. I will now be paying more than $800 per month for healthcare, which is more than 10% of my pension. Add taxes and, this is what you have to look forward to if you're lucky enough to retire without a permanent injury! When the Pension folds or cuts back it will be far worse. Plan ahead we are and were expendable to the politicians. All Pensions are Ponzi Schemes based on the premise that "new" money is coming in. However, when the tax base is disappearing,there are no new hires and the funds are looted to pay other bills, it is unrealistic to believe that pensions can survive. Where is the money going to come from? Six months after you leave, nobody knows youor cares about you. Do you REALLY expect to be paid for doing nothing?
There will be a lot of armed, dangerous and angry retired coppers out there.
Let the pols translate this as they please.
If the city isn't putting any money into the pension anyway, what difference does it make if 9.5 presides over the largest municipal bankruptcy in history ?
From it's website . . .
Nestled between the City of Pawtucket and the Towns of Cumberland and Lincoln, Central Falls' History dates back to 1731 and the early History of the Town of Smithfield. This tiny City with 1.5 square miles and over 18,000 residents proudly boasts its distinction as recorded in "Ripley's Believe It Or Not" as the Smallest most densely populated City, not only in Rhode Island, but in the Nation.
Not much room for error in a tax base this small . . .
Well, if they take our pension then there is no reason for us not to strike. It would seem at that point that the contract and the Illinois constitution is completely worthless.
Solution isn't simply for government employees to demand funding now, because the tax-payers are nearly squeezed dry. Time to address corruption, including exorbidant pensions for some well-connected politicians, lobbyists (teacher union reps, for instance, in recent news). Otherwise you're on the wrong side of issue.
Note that Rahm friends now own Suntimes. He's not a democrat "working prol" politician, nor a "liberal" in the usual definition of welfare-state supporter, but rather a Hollywood democrat - well-educated, rich, and only superficially a "true democrat" because all motivation derives from personal power-brokering and wealth-making. Rahm wants to be president, wants/is wealthy (as dubious H. Clinton's magical investment trades during her Arkansas days), and wants to be Sarkozy.
Give us our money we put in!!!
Unfortunately we probably still wont stick together after we lose our benefits and pension.
Perhaps the pension funds can be saved if you're not allowed to collect until age 63.
$18M Rahm ..ya, he's legit
Our pension survivor benefit is half of the pension the spouse got. If they cut the retirees pension in half and it is the same there as ours, the survivor will get one quarter or about $1000-1300to live on.
If you read the article on Central Falls you would realize that their pension fund is like no other. 60%of their officers go on disability, one who is a lawyer and now like runs marathons while collecting benefits. No one shopuld compare that pension fund to any other
The city, just north of Providence, is small and poor, but over the years it has promised police officers and firefighters retirement benefits like those offered in big, rich states like California and New York. These uniformed workers can retire after just 20 years of service, receive free health care in retirement, and qualify for full disability pensions when only partly disabled.
Think this could be part of the reason
and 60% are of disability
Pension cuts?
Over my dead body!
Rahm resides at 4228 N Hermitage. Time to make a show at his house, too goddamned bad if it is illegal to picket a private residence. Let the 5,000 who picketed City Hall show up at Rahm's front doorstep and see if the City can come up with 5,000 police officers to disperse us.
Chicago has lost thousands of tax payers over the last decade. Also, by not hiring any officers, contributions to the fund are dwindling. The depressed economy dosen't help either. Might be time to demand sources of pension funding from gambling, hotel taxes, airport taxes, etc.
401k for all cpd bet on it
Every copper with under 20 years will have pension benefits changed,70 % max , penalty if pension collected before age 57 , reduced health care , no cola until age 60 with a 30 % cap .
Hi Everyone. I would like to add some Christmas Cheer to this depressing subject.
Don't worry, if they steal,or give to their friends, and relatives the rest, of our pension benefits.
You will have more than enough to eat, drink, and buy lottery tickets.
I base this on my observations, while shopping daily. I shop at the Jewel Food Store. Most all of the shoppers carry LINK Cards. Their Shopping Carts, and Bellies, and Overflowing. There children are also very well fed. The children often pick out items, to throw into the carts. They are all dressed,in the latest gym shoe fashion. They often stop and buy lottery tickets. They then stop and pick up movies at the machine, before they get in their late model SUV's and leave.
I am "SURE" we will receive the same HOST of benefit's once the "BURDEN" of our pensions is removed from the public debt.
PS: Have A NICE DAY ???
Has anyone heard about or seen the supposed new G.O. that says starting January 1st we now only get 365 days of medical for our entire career? Don't we have a contract?
Will the R.I. Pensionaires get social security? For some of us, our pension is all we got. Cutting benefits of people with guns, not a good idea.
I am definitely tired of this and something better change for our good and our benefit.
12/24/2011 02:12:00 AM
Amen
We need to get ahead of this issue now:
Pensions should come in only three basic calculations; PO, Sgt, LT--years of service.
No OT pensionable
No Gold Braids or CPTS
NO "PO as ...." bullshit
No pension payout while drawing any other city salary.
No survivor benefits paid to active members.
Otherwise watch the cloutboys walk off with all your cash--sucka!!
Anonymous said...
Well if they try and take my near retirement benefits away, I say revolution. I am armed and would be very angry to say the least.
12/24/2011 12:53:00 AM
I'm a city worker too, but not a cop. We're both in the same boat regarding near retirement benefits. This is a third rail issue for these political mutts. After years of putting up with their bull, along with their intellectually challenged relatives, I deserve my full pension.
Has anyone else noticed that the approval rating of the US Congress is at it's lowest point in history, 11 percent aproval?
That's like 9 out of 10 people in this country are pissed off at Washington and just 1 out of every 10 people think everythings find I guess.
Police forces around the nation attenpting to repress this resentment are seen as the protectors of this corrupt government that 9 out of 10 people disapprove of!
Makes you wonder when we toss in the people from around the world that are angry at the US for one reason of another just what the G8/NATO elites gathering here is going to look like.
I don't know man...but nine out of ten people!! And should the mayor issue a mayoral fatwa of shoot to kill it's going to be a massacre -- nine out of ten people -- that's on the verge of a revolution if things are not resloved and changed though peacful means.
What are we protecting the rights of the US Constitution or the illegal activities of the bankers and Congress?
I think we should all think about that. We're all busy with the day to day bullshit and other distractions, and we have to earn a paycheck to eat, nevertheless who wants to be on the side that nine out of ten people are against. Do we want a democracy or a fascist dictatorship for our kids and families moveing forward?
Interesting times for sure.
MERRY CHRISTMAS, SCC
GOD BLESS YOU AND YOUR FAMILIES
Why do you think the city wants the G-8 and G-20. There will be large damage done by anarchists and the city will file bankruptcy. From what I hear they want us to contribute more to your pensions alot more......
Anonymous said...
Give us our money we put in!!!
12/24/2011 11:51:00 AM
Sorry, no.
It's ours now.
signed, The Daley Crime Family
There is absolutely no way the city of Chicago will file for bankruptcy. Too many alternatives to raise money thru taxes and property taxes. Rahm will not and cannot let it happen because he cannot run for higher office after having the city he was mayor of, file for bankruptcy, especially in four years
Anonymous said...
Will the R.I. Pensionaires get social security? For some of us, our pension is all we got. Cutting benefits of people with guns, not a good idea.
12/24/2011 03:50:00 PM
Amen brother.
Anonymous said...
Chicago will raise minimum age for retirement from 50 to 57.
City employees with less than 20 years will be forced into this new
retirement plan.
12/24/2011 08:59:00 AM
What do you mean waving them at us? You moron they owe them to us.
Anonymous said...
Has anyone else noticed that the approval rating of the US Congress is at it's lowest point in history, 11 percent aproval?
That's like 9 out of 10 people in this country are pissed off at Washington and just 1 out of every 10 people think everythings find I guess.
Police forces around the nation attenpting to repress this resentment are seen as the protectors of this corrupt government that 9 out of 10 people disapprove of!
Makes you wonder when we toss in the people from around the world that are angry at the US for one reason of another just what the G8/NATO elites gathering here is going to look like.
I don't know man...but nine out of ten people!! And should the mayor issue a mayoral fatwa of shoot to kill it's going to be a massacre -- nine out of ten people -- that's on the verge of a revolution if things are not resloved and changed though peacful means.
What are we protecting the rights of the US Constitution or the illegal activities of the bankers and Congress?
I think we should all think about that. We're all busy with the day to day bullshit and other distractions, and we have to earn a paycheck to eat, nevertheless who wants to be on the side that nine out of ten people are against. Do we want a democracy or a fascist dictatorship for our kids and families moveing forward?
Interesting times for sure.
12/24/2011 06:57:00 PM
Has anyone else noticed that these Jr. Communists known as "Occupy Chicago" like to post on the police blog? As though they are going to somehow make you agree with their Anarchy/idiocy? Your parents should have spanked you rather than give you "time outs" when you were growing up out there in Wilmette. They also should have taught you how to spell. Moving doesnt have an e.
Oh yeah, and....Karl Marx and Saul Alinsky were both homos.
To 3:11:00pm
Quit yelling fire in a crowded theater. The order DOES NOT LIMIT MEDICAL! Read it again. It is limiting the amount if time that one can be in Light Duty Status. So finally the do nothing pets have Fucked up this benefit for the officers with real medical issues that can no longer do the street aspect of our job, but still can be useful to all department members.
Anonymous said...
Daley knew that Obama Care was coming and that is why he "Gave" us the 55 and "free" health. I retired two yrs. ago and will be 65 next month. They will now take over $600 a month to cover my wife and college age daughter, (only till age 22), I also have to pay $200 per month for Medicare. I will now be paying more than $800 per month for healthcare, which is more than 10% of my pension. Add taxes and, this is what you have to look forward to if you're lucky enough to retire without a permanent injury! When the Pension folds or cuts back it will be far worse. Plan ahead we are and were expendable to the politicians. All Pensions are Ponzi Schemes based on the premise that "new" money is coming in. However, when the tax base is disappearing,there are no new hires and the funds are looted to pay other bills, it is unrealistic to believe that pensions can survive. Where is the money going to come from? Six months after you leave, nobody knows youor cares about you. Do you REALLY expect to be paid for doing nothing?
12/24/2011 10:41:00 AM
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This is a little puzzling. You say that the city/pension fund is charging 600 a month for three of you. That in itself is not bad if you compare it to obtaining coverage on your own where it would be much more expensive. You were not specific, but it appears that 600 dollar figure is before you hit Medicare, if that is true that 600 will reduce considerably. If you are in fact paying 800 a month including health premium and Medicare, and your paymentns are 10 percent of your income, that translates to a monthly income of 8000 dollars, or 96000 dollars year. That would then translate to a salary that averaged 128,000 dollars per year. Not bad.
5:34 pm.
Go fuck yourself.
I'm a Detective and have earned my P.O. as... pension. You should have studied harder.
The 55 and Free health for early retirees was only to overload the pension system....call it step 1
next they'll be claiming insolvency
than demanding that all retirees must take a cut or face nothing at all......
To the trolls who agree and are pushing for our retirement age should be raised, that we should contribute more and that spouses shouldn't receive death benefits, you guys must work for the politicians. No policeman or fireman or any city worker would advocate for that. We would probably give the city more years but no one wants to be forced to stay until they can't get a job anywhere else-particularly since we will need one if our pensions are reduced.
To the Occupy folks that post here, I personally am glad you do. Contrary to your beliefs, police aren't protecting the politicians agenda so don't worry about it. As long as protests are peaceable no one has to worry. You have to remember that law enforcers job is to maintain order. That's everyone's agenda including the public at large, not simply the politicians.
Old Retired Guy Here;
I must respond to one of the comments posted. One person feels that 50% of my pension benefit, is still better than what I would have received from Social Security. I ,as most PO's of my era, spent most of my career working side jobs, special employment,and worked furloughs. I have a modest house, and one car. I am still working a part time job. I spent all my money on raising children. My pension will not even pay for a decent nursing home for me. If both me and the wife have to go into one, I don't know what I will do. Our children will not be able to care for us. They have their own burdens. My point is this: Anyone who thinks a Retired PO, that raised a family, here in Chicago, is living the high life, on a PO's Pension is mistaken.
PS: Have A Nice Day ????
Anonymous Anonymous said...
Keep in mind Illinois is Illinois and Rhode Island is Rhode Island. Don't compare apples and oranges. I know what our State Constitutional protections are here. I'd bet more than a paycheck they don't exist there.
And to the moron who made the comment about if he had Social Security the City would have had to contribute more, please don't post anymore comments. You are an embarrassment to us all. Ask those who are on it how it's working out for them, dumrbass.
12/24/2011 10:04:00 AM
Took the words right out of my mouth. Thats just another underfunded government program I dont want to donate to anymore.
47 years old with 25 years and I am going to be one of those dinosaurs who won't go till i'm shoved out the door....
ed on the premise that "new" money is coming in. However, when the tax base is disappearing,there are no new hires and the funds are looted to pay other bills, it is unrealistic to believe that pensions can survive. Where is the money going to come from? Six months after you leave, nobody knows youor cares about you. Do you REALLY expect to be paid for doing nothing?
You are obviously not the police. We EARN a pension, because we worked this job. We get to retire comforably, so the citizens don't have 80 year old geezers showing up to violent inprogress jobs..
If there ever were a cause for "Just Anarchy" this would be it.
Remember " Burn baby burn"?
09:24 Think you hit the nail on the head $800 is 10% so that makes the pension almost $100,000 a year, maybe more. Therefore we are talking to a gold braid CPD employee who is now complaining about having to pay for something. Now to show you the true and telling statement. I will have to pay $200 a month for medicare(he has a wife and daughter) I just checked the medicare rates for 2012 and to pay the premium rate of $199.80 your joint imcome(why I mentioned dependents) starts at $214,000 to $320,000 So if what HE states is true his annual income is at least $214,000 and could be as high as $320,000 and hes complaining about the health care premiums. What about the po making $50,000 to $60,000? What else can you say
Another old retired guy here:
You take away MY pension... and I have nothing to lose...
Sorry folks, but retirement at age 50 with a lifetime pension is not sustainable when the average lifespan is 80. You're on pension longer than you worked. That means you're making double salary. It doesn't work in the private sector and it won't work in the public sector. Blame the politicians and union bosses for lying to you. Don't punish the taxpayers by demanding more taxes.
Hate to say it but you'r Aldermen (all part time) are having discussions with the mayor at city counsel meetings about "redistributing our pensions" as long as theirs are not touched. Check it out for your selves and attend a city counsel meeting. Challenge the part-time aldermen. Just remember all the exempts are on their side. How do you think they became exempts in the first place? The aldermen are definitely NOT on our side.
Anonymous said...
09:24 Think you hit the nail on the head $800 is 10% so that makes the pension almost $100,000 a year, maybe more. Therefore we are talking to a gold braid CPD employee who is now complaining about having to pay for something. Now to show you the true and telling statement. I will have to pay $200 a month for medicare(he has a wife and daughter) I just checked the medicare rates for 2012 and to pay the premium rate of $199.80 your joint imcome(why I mentioned dependents) starts at $214,000 to $320,000 So if what HE states is true his annual income is at least $214,000 and could be as high as $320,000 and hes complaining about the health care premiums. What about the po making $50,000 to $60,000? What else can you say
12/26/2011 01:24:00 PM
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I thought about that Medicare charge that he mentioned, but I kind of assumed that he and his wife were both on Medicare, which would make the total charge about 200 dollars. I looked up the medical insurance rates currently in effect, and if neither he nor his wife are on Medicare and with a child the rate is 805 per month, if both are on Medicare with a child it drops to 353 a month, plus the Medicare premium of about 200 total for a grand total of 553.
That is more than likely what is 10 percent of his income. That would make it about 5530 a month or about 66360 a year. What he is paying the city for is a supplement for him and his wife and full coverage for his daughter. I'm retired also and now know a lot of folks that are also retired, but were not CPD and they would look at that figure as a terrific bargain. There are lots of people paying 15 thousand a year for coverage that has a 10 thousand dollar deductible. Most of them cannot wait until they are 65. He is probably not gold braid, but is arithmetically challenged.
"Sorry folks, but retirement at age 50 with a lifetime pension is not sustainable when the average lifespan is 80. You're on pension longer than you worked. That means you're making double salary. It doesn't work in the private sector and it won't work in the public sector."
I believe that the average lifespan you speak of is closer to 77 for the average Joe, but cops don't tend to live as long after retirement. Typically their lifespans are 10 years shorter that Joe's.
As a retiree paying 805.00 a month for health insurance,just received A letter from Humana One claiming health insurance for a husband and spouse for 454.00 a month.Any thoughts or feedback on this claims.I suspect a large part of our city premiums are to pay for the salaries of city hack"administrators" who sit about munching flaming hot cheetos,waiting to be rude to the next person who calls for help.
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