No Pension for You
Remember that "promise" the city made all those years ago?
Yeah, they've finally decided how to solve that crisis - go fuck yourself:
Yeah, they've finally decided how to solve that crisis - go fuck yourself:
- A panel appointed by Mayor Rahm Emanuel to review taxpayer-subsidized health insurance for retired government workers suggested the city could drop coverage to help erase a financial shortfall.
The option is the most severe of many the group offered Monday as part of a list that gives Emanuel potential leverage to force compromise from wary unions during talks about painful fixes of Chicago's severely underfunded employee pension systems.
Whatever course the city chooses, the report states, the numbers "very strongly suggest that continuing the existing financial arrangement is not a viable course of action."
We predict years and years of lawsuits. Lawsuits that will enrich lawyers and have a better than average chance of costing the City millions of dollars it doesn't have.
Guess who gets exempted though:
Guess who gets exempted though:
- Two groups would be exempted: Retired police and firefighters who are not yet eligible for Medicare but have guaranteed coverage during that period under union contracts, and workers who retired before Aug. 23, 1989, a group protected by a settlement in a court case. Many covered under the so-called Korshak case are not eligible for Medicare.
Good news for our retirees, but expect it to be used against us as a hammer in future negotiations.
Labels: pension
posted by SCC at 12:02 AM
96 Comments:
Health care cost have been rising at about two times the rate of inflation at apprx 7% per year.
It's unsustainable and they know it!
It's protection for the big pharma's profits and it busting out not just you but the nation.
And the mayor has decided that city pension money should not be invested in those evil gun companies.
The mayors a health nut and we wonder if the pensions managers will be demanded to divest from sugary soft drink companies next and then...well who knows what else?
That money would prob. be better invested in the mayors mind in some health care company..you know...like that one the mayor told the Minn AG to back off on. The one that runs a bill collection service and was busted for harassing people about how they were going to pay their bills in the hospital ER's before they were even treated? Yeah..what was the name? Accretive Heath or something?
Mayor seems to have a fetish for that outfit.
Hey, I'm one of those retirees who's covered, but I'll be out there walking the informational picket lines with you, if you choose to make a statement.
our tax $ being raped once again, page 7, 10, and 11 read well.
http://www.cityofchicago.org/content/dam/city/depts/fin/supp_info/Reimbursement/CityofChicagoEmployeeReimbursementReport.pdf
Sure this is the precursor to ramp-ing up the co-pays and to pass any future increases onto the workers.
Threatening to drop health care completely at first and then giving everyone a co-pay increase instead is suppose to make you feel good like you won something because they wanted to take it away but didn't.
Exxcusssseee Meee...
There ae THREE groups exempted from the loss of retiree medical coverage.
1. Police Officers
2. Fire Fighters
(Hey, we EARNED IT)
and....(I am certain of this)
3. Elected and Appointed Officials of the City of Chicago.
If it helps to ease your pain any, find solace in the fact that not one of the ghetto savages you'll proactively arrest today, tomorrow - or ever - will see a decrease in their entitlements.
Remaining safely untouched are their Section 8 vouchers, LINK appropriations, subsidized utilities and medical/dental/vision coverage. Oh yeah, their 'Obama Phones' recharge on the first of the month, also.
Never-you-mind that your kids are eating PB&J sandwiches 3 times a week for lunch while their bussed-in classmates are provided hot breakfasts and lunches. Dinners, too, in some cases.
And before it escapes me... please try to ignore the fact that every aforementioned party is sporting more net worth via cash, clothing, cars, jewelry and portable electronics than you or me ever will, even with 2 side jobs.
Now quit your bitching and get to bed. Don't you know you have to be in Branch 50 at 9am to see your two-bagger-because-I-want-to-keep-my-car get a FNPC?
two options
A) get control of our own medical and have FOP shop around for a group rate.
B) dont retire until 63 and then pay out of pocket till government aid kicks in
but what did rham do with the 9 million left over from NATO? circus in the park, Puerto Rican culture center and a park in Englewood. that's why the city cant afford anything.
if you can retire this year and you don't you need your head checked.
Really Rahm? Ray Charles could've seen this coming.
Rahm picked this panel was there ever any doubt of what they'd come up with?
This guy is a complete snake in the grass.
I'm waiting for him to declare that fucking with retiree's healthcare is for the children!
The best candidates for police work will not join CPD. They will go where the compensation is better. At this rate, that is any other major city in the USA where they value you and offer you a fair retirement package with health benefits and cost of living increases.
CPD will attract second and third tier candidates without better options.
Instead of of cutting peoples pensions how about we cut the Chicago Housing Authority that coddles dead beats that don't pay taxes, do drugs and sit on their front porch all day?
Government employee insurance/pension is not the problem, the problem is the city/state didn't live up to their obligation to pay into those funds and instead used that money for pet projects.
"...and workers who retired before Aug. 23, 1989, a group protected by a settlement in a court case."
gee, how kind of them, to not try to pull coverage from the 70+ year old retirees'.
If, and that is a big if, the city made some kind of promise to give retirees medical coverage, they are going to have to honor it.
However, if they just did it without any promises being made about it, they may well have some grounds to discontinue it.
As I was explaining to my military peeps - who have their checks held hostage by Bammu: News Flash: He's from Chicago, and he's got your balls. That's why your check is threatened. This is the economic part of Regulatory capture, and the Chicago Way. When they control your money they squeeze you. It's to get you screaming at the Congress, and it's a proven formula. Since the government is usually the military service members only source of income and you don't have a private economy to fall back on, he does have your balls. This will happen every time he wants more Power, which means it's never going to stop.
Rahm and McGoofy will be handing out some of those giant foam board checks to the rank and file. They will be reprentative of the pension checks we will not be receiving after paying our share for 30 + years.
Hey Maggie Daley needs another 55 million dollar park!
There are not many CPD retirees still living that retired before 1989. I am 70 and left in 1998 in my 33rd year.. So if Rahm has his way Obamacare here I come..
Why not move the minimum retirement age to 57? Perhaps even raise the age limit to allow some to stay till 67. Many out there can still pass the power test at 60. Where many on the job couldn't pass it a couple years out of the academy.
will officers on duty disability pension lose benefits ?
Fuck you DEMOCRATS! They just keep putting there hands in the cookie jar without ever replenishing the cookies! Thanks for fucking up what once used to be a beautiful city! Rham is no better then Daley! That idiot wants to lease Midway. Why on earth would you get rid of something that makes you money? Democrats are the dumbest people on the face of this earth.
The Chicago Tribune has as it's headline today,
"TWO COP MISCONDUCT CASES TO COST $33M".
Page four has the story of the Emanuel appointed panel findings/recommendations for retiree pensions. Release of that report was made Monday after it had been decided three days earlier.
What an amazing coincidence that the Trib runs the two stories, on the same day, in that order of importance.
In bed together??? Nah!!!
To borrow a line from the Kissing Bandit,
"now keese me you fool"!
I still don't trust the city. I am looking for my own insurance and if I can get cheaper I will take it. 7 more years until Medicare for me. Retired girl
What about us retired guys that when they turn 65 are NOT eligible for Medicare because we are not eligible for Social Security because they never worked part time jobs to have enough quarters to get SS?
It is just amazing to me that the City can just say fuck you and not fulfill their obligation to fund the pension(s) which was required by law.
Amazing!!
During a city council meet in 1984 Alderman Eddy Burke introduced a ordinance allowing only ONE insurance carrier for Police and Fire personal and some other city employees.
The city had to drop several other companies like Bankers life and causality along with several others all for Blue Cross / Blue Shield a major client of Burks law firm for many many years. Burke stood up in the council meeting and stated without other insurance companies competing for the city's business our premiums will drastically decrease and the employees contribution will NOT increase at a substantial rate. This is a matter of city council record! All the while Burks law firm took on Blue Cross / Blue Shield as a new client and made millions. No more competitive bidding for city contracts their clients can't make enough profits so the new scam is PRIVATIZE every city asset like the parking meters for the next 75 years and when you leave city employment have the company hire you and your family as consultants.
C'mon guys tough road ahead. We all got to dig deeper to help our leaders make the right decision for the greater good.
The FOP better step up and take over the insurance coverage for all of us - retired and active. Screw this city, because they are certainly trying to screw us.
@ West Side, Inside Do-Nothing, wow, you just depressed the hell out of me....
Anonymous said...
Really Rahm? Ray Charles could've seen this coming.
Rahm picked this panel was there ever any doubt of what they'd come up with?
This guy is a complete snake in the grass.
I'm waiting for him to declare that fucking with retiree's healthcare is for the children!
1/15/2013 02:51:00 AM
When he first started talking about cutting our benifits, he said it would be done to "raise the quality of life for the citizens of chicago"!!!
Not a cop. This never should have been promised to begin with, free healthcare for life for you and your entire family? How someone could look you in the eye, perform basic math and say 30 years down the line, the costs will skyrocket. Healthcare companies, especially big pharma are not in business to lose money. Yes they give away drugs to make some good PR but overall, they have shareholders. You really think Viagra was by accident? Stop attacking politicians and lets go after healhcare and wonder where the money is. To me that is the problem. CEO's and other directors are taking home millions while premiums go up. Medical care is a concern as you get older you should not have to choose between food and medical care but we accept that and blame the wrong people. Costs must be controlled.
Yet, we have hard chargers out on the streets towing the company line!
You all are goofs that do that!
I say just answer the radio and that's it!
The city is not going to back you up and wants to take health care and pensions away from everyone!
Theres too many clouted people on this department any other local/state government jobs to take away their pensions. We'll be ok Pray Pray Pray!
Folks, why we're going to get into a fight over not using our Medicare (for which we've paid) in favor of having the City pay our bills . . . baffling.
Maybe we can exempt rham and the gang of 50 w/ votes when their up for their so called spots.We have to set up a voting block so that any pol who votes against us from now on gets thrown out of office. I'm sure their coverage will remain the same or better, time to bounce them out!
when's the next march and rally. my days off that I dont have court or side jobs, count me in. no more holding back. lets tell the millions out there the truth about our pensions and what they did, continue to do and what they are planning. where's our FOP? lets wake up the sleeping giant
There is light at the end of the tunnel: Retire as soon as you can and give yourself an automatic cost of living by moving out of Hellinois.
Stop paying into the system for them.
Dump comcast, refuse to shop at Walgreens and Target, etc. the
'redistributors'....
The only votes we have left are voting with our feet and dollars.
Please use it wisely.
Retired CPD
If you leave benefits up to the FOP, you will be screwed. Shields doesnt know what it is like to be a po on the streets. What would make you think he knows anything about health insurance.
Talked with a retiree from NYPD recently while trying to stop the IRS from collecting a penalty because I retired and I'm collecting a pension before I'm 59 1/2. He was working part time for the IRS. Said he retired at age 50 and his medical for him and his wife were covered for life. That was what we were promised when we were hired years ago but Daley made sure to steal that benefit away and Rahm will try to finish the job.
Ret.177
What amazes me is that the mayor uses the Civic Federation, as his think tank, to come up with ideas to fuck with the workers that are left and have to stay inside the city to be employed. The Civic Federation is a bunch of business people that may or may not have a vested interest in the city. I would like to see them compare our large Metropolitan Police department with the other Large Metropolitan Police departments in, as they keep referring to, the "private sector". We are not comparable to anyone in the "private sector". We don't pay into social security and have 401K's like the "private sector". we pay into a pension fund and the city didn't. They keep brain washing everyone about how we should be treated just like the "private sector"!!!!! Do you think someone, like our fraternal orginization, could call them on that nonsense?
The pension was promised.
Health care wasn't.
SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT'/ENTITLEMENT!
Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"?
The government is now referring to our Social Security checks as a "Federal Benefit Payment."
This isn't a benefit - its earned income! Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that's close to
$180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both
your and your employer's contributions) at a meager 1% interest rate compounded monthly, after 40 years of
working you'd have more than $1.3+ million dollars saved! This is your personal investment.
Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month.
That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the
Social Security Administration (Google it - it's a fact).
And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)!
I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did.
They took our money and used it elsewhere. They "forgot" that it was OUR money they were taking.
They didn't have a referendum to ask us if we wanted to lend the money to them.
And they didn't pay interest on the debt they assumed. And recently, they've told us that the money won't support us for very much longer. But is it our fault they misused our investments?
And now, to add insult to injury, they're calling it a "benefit," as if we never worked to earn every penny of it.
Just because they "borrowed" the money, doesn't mean that our investments were a charity!
Let's take a stand.
We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government, Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it. Then call it what it is: Our Earned Retirement Income.
Wayne J. Falcone
Live the journey, not the destination. This is not a dress rehearsal!
"Fucking with retirees healthcare is for the children".That's priceless.
What about us retired guys that when they turn 65 are NOT eligible for Medicare because we are not eligible for Social Security because they never worked part time jobs to have enough quarters to get SS?
It is just amazing to me that the City can just say fuck you and not fulfill their obligation to fund the pension(s) which was required by law.
Amazing!!
--------------------------
What sucks even more is that if you do have enough credits to collect SS, but you are collecting a pension, SS will cut your monthly payment over 50 percent.
Don't get to excited folks. If you retired before age 55 and before age 60 covered by the current agreement we may have problems.
Those retirees who are paying their own health insurance with a contribution from the City, I.e. a retiree age 50-55, may find that the City will be able to cast them off after June.
Those that they must cover are retirees over 55 with maximum amount of service. This coverage was guaranteed to police and fire by the bargaining agreement. Everybody else who pays for themselves and their spouse or children may be out.
cpd exempt rank are over their head , most exempts were merit sgt , lt , capt . only in chicago does sh-t rise to the top .
What sucks even more is that if you do have enough credits to collect SS, but you are collecting a pension, SS will cut your monthly payment over 50 percent.
1/15/2013 03:48:00 PM
Actually, it is more like 75% and this also applies to any widows benefits. The Rostenkowski bill could have been defeated but it had the support of teachers unions across the country. I wonder what the democratic party offered them for their support?
Health care wasn't.
1/15/2013 02:24:00 PM
Not true. Years ago when many retirees came on the job announcement stated health care upon retirement. No one at that time predicted the soaring health care costs. Eliminate the insurance companies and the costs will be down, a lot.
No soup for you!
...but Richie J. went through the line a long ways ahead of you.
articles.chicagotribune.com/2012-05-02/news/ct-met-pensions-daley-20120502_1_higher-union-salaries-public-pension-pension-funds
Tell that little cocksucker to fund his end of it. Maybe then he can talk shit about what its invested in.
The balls on this little shit are unbelievable.
This case started in 1987 when Mayor Harold Washington decided that the city was not responsible for paying for the retirees health care and the city was sued. Since then in segments of usually 10 year intervals an agreement was reached between the retirees,AKA Korshak and the city for a say 10 period time frame and now that 10 years is up. As of 30 June 13 there is no more settlement
What sucks even more is that if you do have enough credits to collect SS, but you are collecting a pension, SS will cut your monthly payment over 50 percent.
1/15/2013 03:48:00 PM
Actually, it is more like 75% and this also applies to any widows benefits. The Rostenkowski bill could have been defeated but it had the support of teachers unions across the country. I wonder what the democratic party offered them for their support?
1/15/2013 05:07:00 PM
Do not forget it also applies to spousal benefits I was supposed to receive 50% of my wifes benefits as she worked for 30 years and I get none, not a percentage but NONE
What about us retired guys that when they turn 65 are NOT eligible for Medicare because we are not eligible for Social Security because they never worked part time jobs to have enough quarters to get SS?
It is just amazing to me that the City can just say fuck you and not fulfill their obligation to fund the pension(s) which was required by law.
If your wife worked and had the 40 quarters you will be covered under medicare. Also if you are divorced and your wife worked and earned the 40 quarters you are still covered if you were married for 10 years
Talked with a retiree from NYPD recently while trying to stop the IRS from collecting a penalty because I retired and I'm collecting a pension before I'm 59 1/2. He was working part time for the IRS. Said he retired at age 50 and his medical for him and his wife were covered for life. That was what we were promised when we were hired years ago but Daley made sure to steal that benefit away and Rahm will try to finish the job.
Ret.177
Our pension rules change all the time and aren't really covered for life. When I came on you had to stay on until 59 to retire, otherwise take a huge penalty for retiring early, then the retirement age was lowereed to 55 and now 50. All I'm saying is the pension requirement change all the time and alot of the changes are negoitiated changes like the 55 and free health insurance
Folks, why we're going to get into a fight over not using our Medicare (for which we've paid) in favor of having the City pay our bills . . . baffling.
1/15/2013 10:13:00 AM
Dont think you understand and you missed the point. When you hit 65 and become eligible for medicare, the city does not pay your health insurance. You use medicare and the plan the city gives you and makes you pay for is a SUPPLEMENTAL plan that picks up what medicare doesnt
Not a cop. This never should have been promised to begin with, free healthcare for life for you and your entire family? How someone could look you in the eye, perform basic math and say 30 years down the line, the costs will skyrocket. Healthcare companies, especially big pharma are not in business to lose money. Yes they give away drugs to make some good PR but overall, they have shareholders. You really think Viagra was by accident? Stop attacking politicians and lets go after healhcare and wonder where the money is. To me that is the problem. CEO's and other directors are taking home millions while premiums go up. Medical care is a concern as you get older you should not have to choose between food and medical care but we accept that and blame the wrong people. Costs must be controlled.
No one was ever promised healthcare for life on the CPD, NO ONE, you misunderstood, when you hit 65 and become medicare eligible you are placed on medicare and pay your medicare premiums. The city offers you a supplemental policy to pick up what medical doesnt ,but you pay a premium for the supplemental policy
An example is my wife and I each pay $111.00 for medicare and the supplemental city policy is $249 or $299 not sure but together we pay around $500 a month. I dont get where you think CPD employees get free health insurance for life. You are dead wrong on that
There ae THREE groups exempted from the loss of retiree medical coverage.
1. Police Officers
2. Fire Fighters
(Hey, we EARNED IT)
and....(I am certain of this)
3. Elected and Appointed Officials of the City of Chicago.
And where does it say this and who says it Show me a law, agreement or anything official that says this, not a friend told me or I heard it If what you say is true show me, it has to be written somewhere
If, and that is a big if, the city made some kind of promise to give retirees medical coverage, they are going to have to honor it.
However, if they just did it without any promises being made about it, they may well have some grounds to discontinue it.
The city NEVER made a promise for retirees health care. They were sued and made an agreement in 1987, the Korschak case , and the agreement has been extended since then in like 10 year increments, the last EXPIRING on 30
June 2013 On 1 July 2013 there is no more agrrement and the city can drop the health care or agree to continue it as it is now or make changes to a future agreement
What about us retired guys that when they turn 65 are NOT eligible for Medicare because we are not eligible for Social Security because they never worked part time jobs to have enough quarters to get SS
As of now the city will still insure you if you are not elibible for medicare, but the premium is very high. Thats why on the premium charts its says medicare/medicare for one premium if both are elibile and another says medicare/non medicare if only one is eleigible for medicare but the premium is alot higher
Civil war a com'in again. Tick tick tick
Health care isn't protected in the state constitution. It's gone; but, that won't stop the union from wasting money chasing it in court.
Is Shields still the pension rep? I thought someone else took over for 2013?
Anonymous said...
Instead of of cutting peoples pensions how about we cut the Chicago Housing Authority that coddles dead beats that don't pay taxes, do drugs and sit on their front porch all day?
1/15/2013 05:37:00 AM
No, no, no. That would cut the voting base of the democrats.
We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government, Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it. Then call it what it is: Our Earned Retirement Income.
Wayne J. Falcone
Live the journey, not the destination. This is not a dress rehearsal!
1/15/2013 02:37:00 PM
Social Security was a scam socialist program from its inception. How could anyone think that the government would do a better job saving for retirement that the individual? They've done great, haven't they? Giving away your money, that is.
FOP asked Romney and Obama about eliminating the Windfall provision. Romney said he would not, but Obama said that he would. Time to hold him to his word.
The City pays less than 50% of the retiree health care, the pension pays the balance. All you folks out there saying the city is giving you something, it is coming from our pension fund along with pension payments and disability salaries. It's no wonder we will go broke.
All the RHBC did was increase the amount we are paying from our own fund. The City's portion is of course recommended to be reduced...again.
Obviously, this will be a sore subject for the young officers, who for many years have never had to worry about even thinking of a pension because they have no time on the job,now will blame the reitrees for the reason the city won't give us a raise, what are you guys thinking about, I would rather keep what we have, many of you are single right now and don't give a damm about benefits, but soon you will, I have given this city over 30 yrs of service and want my pension, The city is to blame for not putting thier share into the pension plan, and don't get nasty with the older cops who are retired or getting close to going, you need to work hard, voice your opinion, and rally against this city for your right to collect a pension in the future.
15/2013 02:24:00 PM
Not true. Years ago when many retirees came on the job announcement stated health care upon retirement. No one at that time predicted the soaring health care costs. Eliminate the insurance companies and the costs will be down, a lot.
1/15/2013 05:11:00 PM
You are still going to get healthcare, but its going to cost you alot more with less benefits
BY FRAN SPIELMAN, City Hall Reporter, January 10, 2013 12:24AM, Updated: January 10, 2013 2:46AM "The pension and retiree health-care crises are inextricably linked, because underfunded city pension funds now contribute 13 percent to retiree health care. Chicago taxpayers contribute 55 percent and retirees pay 32 percent.
Retiree health care represents an $800 million unfunded liability for the city."
The city contributes 55% for retiree healthcare which is $800 million and if we use the $800 million as the 55% baseline then the 32% contributed by retirees is $464 million and the 12% from the pension fund is $174 million. The total is $1.45 billion to retiree healthcare.
According to the same article there are approximately 35,000 retirees. This means $41,500 is being spent on each retiree.
This is absurd. What does the city really pay each year for retiree healthcare? Could it be mismanaged? Is the public not being told the truth? Could we find healthcare cheaper for 35,000 retirees and throw in all the actives, I am sure there is a company willing to take us on as clients.
Anonymous said...
@ West Side, Inside Do-Nothing, wow, you just depressed the hell out of me....
1/15/2013 09:27:00 AM
Yea, but it was 100% correct. Sad but true, the asshole non-contributors have it better than the average working stiff.
This country is fucking doomed.
"As I was explaining to my military peeps - who have their checks held hostage by Bammu: News Flash: He's from Chicago"
Nice try BMoron, Congress controls the purse, therefore they are the ones holding their checks hostage
Anonymous said...
What sucks even more is that if you do have enough credits to collect SS, but you are collecting a pension, SS will cut your monthly payment over 50 percent.
1/15/2013 03:48:00 PM
Actually, it is more like 75% and this also applies to any widows benefits. The Rostenkowski bill could have been defeated but it had the support of teachers unions across the country. I wonder what the democratic party offered them for their support?
1/15/2013 05:07:00 PM
I am a retired PO and I get $300 a month in SS. That is 40% of what I would have gotten. My wife will get her own SS check starting this year, undiminished. She does not have a municipal pension. Even if/when she gets any widow pension her SS will not be diminished. Three SS reps told me this. She did not earn a municipal pension, widow benefits do not count against her earned benefits, only against that SS portion she might inherit from me.
None of what the mayor, governor, or any elected politician says will ever help me sleep easier at night. I trust none of them, like most of us, and fear the day my retirement check is less due to a surprise medical insurance payment or whatever f'd up thing they can come up with. It just really bugs me, these stuff their own and family members' pockets bastards, who also did not properly fund the pension as required. And, just ranting now, I will never, ever, understand how Daley's nephew was able to take, what was it, $6 mill or so, out of our fund, to invest, that went to hell in a hand basket. Really? The corruption in this city, and state is astounding. Thank heaven for good sense and deferred comp, as I suggest all CPD officers invest in, even if it's only a few bucks a month. Take care of yourselves first, cuz this shit city won't.
I tried calling my state representative to voice to NOT VOTE FOR SB 1673 and both times I was denied to leave my message.
I blame the FOP for years of weakness to the city and their mentality to "not upset the city." Telling us, "officer, we are lucky to have jobs." Maybe they are indeed luck to have a J O B, but I have earned it and I have not worked this hard to be told that I am lucky, because I earn my paycheck every single day and never complain or cry to my phone calls. We can learn some lessons from the Teacher's Union and grow some balls. Our FOP gets paid to upset the city and not golf with McGoof. Golfing is a waste of funding with a New Yorker that does not understand our Chicago patrol and its officer needs. We have families to feed, we didn't even get the yearly estimated cost of living in increase. Take the lessons from the Teacher's Union and start fighting for us FOP!!!!
Who do we have to thank for Shields getting the prez job. None other then the new breed police that bought Shields Bull shit when he was on the news at the pension board calling (I forgot) out.
Bella would of never let this happen.
Thanks all you me-me-me hair gels !
By the time these wonder cops retire, and the rules change the age to retire with 75 percent with 40 yoj and the you have to be at least 65 to retire.
All of us who retired the last 3 years are very happy we did when we did.
You hair gels are stuck in the mud and got a few decades to think it over until you retire.
Rahm wants you to quit and pull you money out, there are 20 guys waiting to take your place on the CPD. They will be breed as revenue machines and will tow the line.
FOP did not back the sure to win race for mayor, Rahm. Now go ask Chico for more benifits.
Gerry will be gone soon, and nothing will change. You think you miss Jody yet ?
article about pension crisis from Crains Chicago Business:
Here's an actual, honest-to-goodness pension fix
By: Ralph Martire January 16, 2013
There was much wailing and gnashing of teeth when the recent lame-duck session in Springfield ended.
Why? No action was taken to address the $95 billion in debt owed to the state's five pension systems.
This leaves the systems with just 40 percent of the funding they should have currently, which is well below the 80 percent generally deemed healthy for public systems. Good government groups and editorial boards alike lamented the Legislature's failure to pass yet another proposal to reduce that ginormous obligation — this time by cutting almost $30 billion in benefits earned by current workers and retirees.
But rather than being dismayed, folks should be relieved. Here's why.
A problem really can't be solved unless the proposed solution addresses its true cause. And the proposal that failed to pass during the lame-duck session — like every other proposal introduced to date on this subject — focused its solution on benefit cuts and thereby failed to deal with this particular problem's true cause.
See, three factors have contributed to the creation of this unfunded liability. The first two are items inherent to the pension systems themselves, like benefit levels, salary increases and actuarial assumptions; and investment losses suffered during the Great Recession. But if those were the only factors creating the unfunded liability, the systems would be around 70 percent funded today, meaning no crisis.
The vast majority of the unfunded liability is made up of the third contributing factor: debt. Indeed, for more than 40 years. the state used the pension systems like a credit card, borrowing against what it owed them to cover the cost of providing current services, which effectively allowed constituents to consume public services without having to pay the full cost thereof in taxes.
This irresponsible fiscal practice became such a crutch that it was codified into law in 1994 (P.A. 88-0593). That act implemented such aggressive borrowing against pension contributions to fund services that it grew the unfunded liability by more than 350 percent from 1995 to 2010 — by design. Worse, the repayment schedule it created was so back-loaded that it resembles a ski slope, with payments jumping at annual rates no fiscal system could accommodate. Want proof? This year the total pension payment under the ramp is $5.1 billion — more than $3.5 billion of which is debt service. By 2045, that annual payment is scheduled to exceed $17 billion, with all growth being debt service.
It is this unattainable, unaffordable repayment schedule that is straining the state's fiscal system — not pension benefits and not losses from the Great Recession. And no matter how much benefits are cut, that debt service will grow at unaffordable rates. Which means decision-makers can't solve this problem without re-amortizing the debt.
Given that the current repayment schedule is a complete legal fiction — a creature of statute that doesn't have any actuarial basis — making this change is relatively easy. Simply re-amortizing $85 billion of the unfunded liability into flat, annual debt payments of around $6.9 billion each through 2057 does the trick. After inflation, this new, flat, annual payment structure creates a financial obligation for the state that decreases in real terms over time, in place of the dramatically increasing structure under current law. Moreover, because some principal would be front- rather than back-loaded, this re-amortization would cost taxpayers $35 billion less than current law.
One last thing — it actually solves the problem by dealing with its cause.
Read more: http://www.chicagobusiness.com/article/20130116/OPINION/130119858/heres-an-actual-honest-to-goodness-pension-fix#ixzz2I9JX036n
"Yeah, they've finally decided how to solve that crisis - go fuck yourself:"
They've been fucking taxpayers for years, so yeah, go fuck yourself.
According to the same article there are approximately 35,000 retirees. This means $41,500 is being spent on each retiree.
This is absurd. What does the city really pay each year for retiree healthcare? Could it be mismanaged? Is the public not being told the truth? Could we find healthcare cheaper for 35,000 retirees and throw in all the actives, I am sure there is a company willing to take us on as clients.
=======================
an interesting factoid. medicare only spends about $12,000 per year per beneficiary.
maybe you should point the numbers out to fran and see what she says, if anything.
Anonymous said...
If, and that is a big if, the city made some kind of promise to give retirees medical coverage, they are going to have to honor it.
However, if they just did it without any promises being made about it, they may well have some grounds to discontinue it.
The city NEVER made a promise for retirees health care. They were sued and made an agreement in 1987, the Korschak case , and the agreement has been extended since then in like 10 year increments, the last EXPIRING on 30
June 2013 On 1 July 2013 there is no more agrrement and the city can drop the health care or agree to continue it as it is now or make changes to a future agreement
1/15/2013 06:17:00 PM
There are at least 4 groups of employees involved in the retiree health care issue. Some have something in writing in, of all places, the contract between the City of Chicago and the FOP.
Here is the pertinent paragraph pertaining to me:
from FOP contract, page 122,
B. Health Care Benefits Upon Retirement
l. Officers Who Retire on or After Age Sixty (60)
Officers who retire on or after age sixty (60) shall continue to receive the health care
benefit set forth in Section 25.2 of the Agreement and may elect to have their final compensation paid in accordance with Section (C). Any officer who intends to exercise this option shall notify the Employer of his/her intent in writing at the time he/she flies for retirement and shall otherwise comply with any administrative procedures established by the Employer to implement this provision. After an officer files for retirement, he/she may only rescind his/her election prior to the effective date of retirement or by any administrative deadline established by the Employer, whichever date is earlier. Upon retirement, the officer's election becomes irrevocable.
---
If you want to hide something from a copper, put it in the contract.
Social Security was a scam socialist program from its inception. How could anyone think that the government would do a better job saving for retirement that the individual? They've done great, haven't they? Giving away your money, that is.
FOP asked Romney and Obama about eliminating the Windfall provision. Romney said he would not, but Obama said that he would. Time to hold him to his word.
1/15/2013 08:55:00 PM
Luis Gutierrez REFUSES to support this. He's all about giving benefits to illegals, but REFUSES to support taking care of civic employees who worked all their lives and are deprived of social security benefits.
You think you miss Jody yet ?
1/16/2013 04:19:00 AM
it ain't easy to hit a moving target.
Chalkie
So just to look back at all the great things the Shields Team has done for actives: 1. Did not send the negotiation letter on time to the city 2. President and Attorney both being sued by former employees of FOP that will cost us all money 3. Will be the last to have a contract offered to us
Just to name a few. We know contract negotiations are at a halt, but have the law suits been dismissed yet?
Some things are learned with time and this pension thing should shock us.
Nice try BMoron, Congress controls the purse, therefore they are the ones holding their checks hostage
1/15/2013 10:46:00 PM
the executive branch controls the administration of the government, which is why the executive branch is referred to as 'the administration', and the legislative branch is referred to as 'the legislature'.
the administration of government includes defining the policies which implement the laws made by the legislative branch, presumably in accordance with the intent inherent within said laws.
while i recognize that it conflicts with your nature, try not to make excuses for crappy management.
Nice try BMoron, Congress controls the purse, therefore they are the ones holding their checks hostage
And that's exactly what they're doing. Controlling the purse - BHO voted "present" yet again
Boylan:
When you come on our blog and call our readers names, it detracts from what we are doing here and provokes nonsense flame wars, not to mention diminishes any credibility you might be hoping to build. We don't owe you a platform to spout your insults.
You have no expectation of anything here - this is our construct, we make the rules. Period. You feel strongly about an issue, go start a blog. They're free! You write something we think will be interesting, we'll might even link it. Otherwise, don't come on here with your bullshit masked as an "issue" that we "owe" coverage to. We owe you nothing - get used to that concept and you'll get along fine here.
Here is the pertinent paragraph pertaining to me:
from FOP contract, page 122,
B. Health Care Benefits Upon Retirement
l. Officers Who Retire on or After Age Sixty (60)
Officers who retire on or after age sixty (60) shall continue to receive the health care
benefit set forth in Section 25.2 of the Agreement and may elect to have their final compensation paid in accordance with Section (C). Any officer who intends to exercise this option shall notify the Employer of his/her intent in writing at the time he/she flies for retirement and shall otherwise comply with any administrative procedures established by the Employer to implement this provision. After an officer files for retirement, he/she may only rescind his/her election prior to the effective date of retirement or by any administrative deadline established by the Employer, whichever date is earlier. Upon retirement, the officer's election becomes irrevocable.
Point well taken, but unfortunately that contract is over and I understand it stays in effect until a new contract is ratified. If this section is not included in the new contract it is out and this doesnt apply
The City pays less than 50% of the retiree health care, the pension pays the balance. All you folks out there saying the city is giving you something, it is coming from our pension fund along with pension payments and disability salaries. It's no wonder we will go broke.
You have no idea what you are talking about The city pays 50% and 55% dependent on the date of retirement and time on the job. The pension pays 16% and we pay the rest
Anonymous said...
There ae THREE groups exempted from the loss of retiree medical coverage.
1. Police Officers
2. Fire Fighters
(Hey, we EARNED IT)
and....(I am certain of this)
3. Elected and Appointed Officials of the City of Chicago.
And where does it say this and who says it Show me a law, agreement or anything official that says this, not a friend told me or I heard it If what you say is true show me, it has to be written somewhere
1/15/2013 06:12:00 PM
I'm still waiting to see this in writing You read this somewhere or saw the agreement or law or are you just blowing smoke
when talking about the medical costs, remember, the city gets money rreturned to them by the insurance company, referred to as a "bulk discount". This is about 30% of payments, that can then go into the general fund.
This is why the city refuses to let us be "self-insurred", like was proposed several years ago (the Philidelphia plan)by FOP (Eddie King to be specific.)
in short, the numbers on medical costs by the city do not include the 30% refund.
"And that's exactly what they're doing. Controlling the purse - BHO voted "present" yet again
1/16/2013 01:22:00 PM"
The President has no vote in Congress Numbnuts, all that money your parents wasted @ private catholic schools& you're still a dipshit.
the retiree pension insurance coverage is not nearly as good as the active
no coverage for any preventative care:annual check-up; pap smear; mamogram; colonoscopy; etc
Be Aware: the early retirees (before 60) get a totally different insurance plan....and we do pay for it........considerably more than if we stayed til 63. but thought we would still get the same plan........shame on me!
To the 15% guy: No. Actually much less.
Not paricularly hard to find...
http://www.ssa.gov/OACT/ProgData/taxRates.html
Anonymous said...
when talking about the medical costs, remember, the city gets money rreturned to them by the insurance company, referred to as a "bulk discount". This is about 30% of payments, that can then go into the general fund.
This is why the city refuses to let us be "self-insurred", like was proposed several years ago (the Philidelphia plan)by FOP (Eddie King to be specific.)
in short, the numbers on medical costs by the city do not include the 30% refund.
Where do you get this stuff The city is self insured Thet do not have an insurance company. BC/BS just administers the citys insurance, so even if what you say about the 30% were true, which its not, it would be the citys money We do not have an insurance co
Seriously - the healthcare crisis for retirees is loading and no one knows what will happen?
Post a Comment
<< Home