Pension Pushback
- Details of the pension deal reached by four House and Senate leaders and headed for a vote this week have supporters and critics in full-court press mode.
Union leaders, who are blasting the agreement, say their members will bombard lawmakers Monday, urging them to kill the proposed bill that could ultimately slash $160 billion from the state’s future pension liabilities and improve Illinois’ damaged creditworthiness.
“We think that this is a grotesque taking of retirement security from public employees, from teachers, firefighters and nurses,” said Dan Montgomery, president of the Illinois Federation of Teachers. “It’s not fair, and we also think it’s not legal.”
Anders Lindall, spokesman for AFSCME Council 31, said Friday that the union will sue if the proposal becomes law.
We Are One Illinois, a coalition of unions working on behalf of 1 million members, said on its website that the proposal “makes it impossible for retirees to keep up with the cost of living.”
Four people have decided this "deal" and four people are going to be pushing their respective caucuses to excuse decades of financial mismanagement and put the blame for this mess where it doesn't truly belong. That isn't to say the unions are blameless - they supported these same people with money, votes and volunteers, and are now acting surprised that an unsustainable economic model is going to collapse in short order leaving their members in a very tough spot.
The Tribune has an article up describing almost exactly what we see as the future of Illinois, and it isn't pretty:
The Tribune has an article up describing almost exactly what we see as the future of Illinois, and it isn't pretty:
- In the last three months, state legislators and Gov. Pat Quinn have done a fantastic job making headlines about trying to solve Illinois' estimated $100 billion unfunded pension liability, while accomplishing absolutely nothing. They held a special session and did nothing. The governor docked their pay, and they did nothing. They drafted two pension-overhaul bills, but neither got through the entire legislature — and so, did nothing.
Now our political leaders say they have made a breakthrough. In closed door meetings, hidden from public view, they have drafted legislation that's intended to show they can get something done. But in this case, getting nothing done would be preferable to the passage of legislation that all but ensures the economic demise of our great state.
Read it all and start making plans. The future is ugly.
Labels: pension
posted by SCC at 12:03 AM
94 Comments:
RETIRING SOON!movin and takin my 50 yr ole skills to a warm weather state!i can watch wgn news at 1pm AND THE HAWKS ON THE SAT!BYE BYE! AND GOD BLESS THE POLICE!
"The future is ugly". For exactly who is the future ugly? Not the citizens of Illinois if a way has been found around the public employee union pension kerfunkle.
Call your state senator and state rep . now.
Change it for new hires
It's all fun and games until there is not enough to go around.
Retirement for the masses was a ponzi scheme.
We got 70 good years out of it thanks to the baby boom demographic.
You were lied to. ......get over it.
Make other plans.
..learn from the detroit bankruptcy how it's all rigged including the unions.
============================
By Thomas Gaist and Jerry White
27 November 2013
Part one of the “Who’s Who” of the main players in the Detroit bankruptcy includes profiles of Emergency Manager Keyvn Orr, Michigan Governor Rick Snyder and former State Treasurer Andy Dillon. Part two profiles Snyder’s top political aide Richard Baird, US bankruptcy Judge Steven Rhodes and Detroit Mayor David Bing. The third and final installment describes the role of top trade union officials in the bankruptcy.
Two weeks of testimony in the Detroit bankruptcy case have exposed the premeditated character of the July 18 decision by Emergency Manager Kevyn Orr to initiate the largest municipal bankruptcy proceeding in US history. The bankruptcy, which is being backed by the Obama administration, was not necessitated by financial imperatives; instead it was a political decision—long in preparation—which was aimed at setting a precedent for the ripping up of the wages, pensions and benefits of city workers, and selling off of public assets like the masterpieces of the Detroit Institute of Arts.
The evidence presented in the testimony brought to light the extent to which, starting with its January 2011 inauguration, the administration of Michigan’s Republican governor Rick Snyder gathered around it a virtual shadow government of law firms, private consultants, investment bankers and top officials from both the Democratic and Republican parties. Their plan was to use the state’s anti-democratic emergency manager law to install an unelected financial dictator in Detroit who would use the bankruptcy courts to override every obstacle to the wholesale looting of the city by the big banks and corporations.
Al Garrett, American Federation of State, County and Municipal Employees (AFSCME) Council 25 president
The American Federation of State, County and Municipal Employees, led in Detroit by AFSCME Council 25 President Al Garrett, is the largest public sector union in the city. In the years leading up to the bankruptcy and the months that have followed AFSCME has not organized a single significant demonstration, let alone strike, to defend city workers or public services.
Allied with the Obama administration and the Democrats on the national and local level, AFSCME has joined in the effort to force workers to pay for the financial crisis produced by decades of pro-corporate policies overseen by subsequent Democratic-controlled city administrations.
AFSCME blocked any fight against Mayor David Bing and his predecessor Kwame Kilpatrick as they reduced the municipal workforce from 18,000 in 2005 to less than 10,000 in 2013. Instead they have collaborated in the imposition of savage wage and benefit concessions, which have reduced labor costs by a third over the last five years alone. In February 2012, in an effort to persuade Republican Governor Rick Snyder to postpone his plans to install an emergency manager in the city, AFSCME led a coalition of 30 unions, which offered to impose $180 million in concessions on their members.
more .. http://www.wsws.org/en/articles/2013/11/27/who-n27.html
Police/Fire won't change. Everyone else will. Heard it here first!
Break out the ropes.
even if the pension fight is won what do you end up with in the end with the fed reserve and it's qe money printing -- devaluing the fiat currency by 85 billion dollars per month.
everyone is going to have a stack of worthless paper that you can't buy shit with at the rate we're going.
gotta love that political 'word salad' too.
stop calling it pension reform. it's pension cuts plain and simple.
remember mccarthy said;
'you have to be careful of the words you use because of the images the words conjure up'
They all now have the compound interest COLA. That is a killer. We never had a compound COLA, simple interest only.
Watch for Rahm to try to stick it to us some how, some way.
You really didn't think the thieving politicians would own up to their thievery and put the burden on themselves instead of the faultless pensioners did you?
Read it all and start making plans. The future is ugly.
******
Start making plans??!! There's a larger contingent of us here that are nearing the END of their time with the CPD and now is not the time to START making plans.
You children may have the time to do that, but the rest and majority of us don't.
If WE go down, this entire STATE goes down, period. We're not going to be the ones getting fucked twice, the rest of this shithole state and city is gonna get their fucking as well since it was ALL our money that was stolen for their crony system.
Anonymous said...
Call your state senator and state rep . now.
12/01/2013 12:45:00 AM
HA! That's like me telling a fine citizen in 011 to "call the CAPS office with your complaint".....does nothing. All smoke and mirrors.
And you people didnt see this coming??? Keep popping out more kids, buy a huge house, put on an addition. Guess what -Your STUCK in this City forever!!!! I have been maxed out on Deffered Comp for past 10 years. I WILL have enough to get out of Shitcago. Anyone who's just relying on our Pension is a fool. I work side jobs and live Within my means. From the outside it may look like I'm just making by but wrong...I have been saving. When I retire my house will be payed off. In addition to Deffered Comp I have 2 school funds that are compounded and Another savings account that is pre-taxed. My motivation is just observing and working in this City...Hell NO am I going to, or Want to stay here!!!! Instead of you people buying bullets and storing food and water for the "Zombie Apocolypse" you should of been saving $$$.
Although if your one of the many unfortunate ones that are stuck here for life...than maybe u should be planning for an Apocolypse. This City will burn.
Welcome to the hunger games. Our future is the same as the Greeks. And as they deliberately import more hordes of millions to compete for food and jobs...and they ALL are covered by Affirmative Action; well, you see the future, don't ya Western Man? Only YOU can stop it. Mohammed Ali was right when he said, "Blue birds fly with blue birds and red birds fly with red birds". It's up to you.
start reforming the massive medicaid and welfare fraud in this state and you will find plenty of money to balance the books and pay retirees what they were promised when they were hired--- madigan and cullerton and rahmbo and the rest of the thieves can go pound sand....
Why 50 Alderman??? Part time Job with a Pension
They screwed us before and they will screw us again. If I owe something I pay it. They just take it out of our asses and don't repay.
Do you notice that there are no reductions or fezzes for retirements that earn over $100 K per year. Law makers and judges will not get hurt. Only the little guy.
This is a fight between corporate welfare mongers and public emcees, nothing more.
It's the government pitting services and pensions and deliberately excluding all the corporate tax avoidance that is the true impetus of this bullshit.
If allowed to pull this shit now, public employees will continue to be the money pot for corporate welfare frauds.
FOIA demand a complete list of all corporations getting tax breaks including a total amount of subsidies granted to corporations.
THEN you'll see who's really to blame.
And for you dipshits that think busineses will leave if they can't avoid their tax obligation you've just sealed your fate because corporations will continue to threaten to leave until you have no pension, medical benefits and get shit wages. Wise up dipshits, the state is taking YOUR fucking money to pay for corporate welfare.
Its simple. Cut are pensions? And we start cutting politicians. Get the hint?
Thank god i quit the city, all my union bras were saying i was stupid.Including my cpd n cfd family members.working for MWRD as PIPEFITTER, self funded, paying in 10 percent into the pension.All is good now just have to move out of shitcago. HAPPY HOLIDAYS
Why allow folks to collect a pension at 50? And you wonder why the funds are low. Make it at least 60, to keep the funds up.
Police retire earlier but they die younger. Police have contributed to their own pensions and if it is a problem police should be allowed to cash out their contributions tax free. The private sector does not get shot at and attacked. If the private sector is angry, they should question why all the jobs are going to other countries.
The difference with most of the 'other' unions is that they contribute little-none toward their pension.
We pay 9% EVERY payday.
Their COLA is compounded, ours NEVER was, yet it always is 'portrayed' that way.
Lastly, OUR pension fund is woefully lacking only because the city/state (Politicians) have failed/refused to put in their required amount while we continue to pay our 9% every check.
Years back we even offered to contribute more toward our pension in anticipation of dwindling funds/economy only to have the politicians refuse, as it would increase their (required) portion which they to this day fail to recognize.
Put the blame where it belongs.
lets lift residency after 7 yrs of service ,wake up people!
I know I talk (or blog) to myself when I am on here promoting independence from CPD and I might as well be writing in non-used written foreign language but to all my fellow coppers out there, quit working VRI and start your own business or do something non-police related. It's not that hard; really, if I can do it anyone can. In 12 years I built up a great business and have zero and I mean zero dependence on CPD and will be able to leave at 20 years before age 50. I literally make more money working my biz PT than my full pay with 17 YOJ with CPD.
Have a plan B. Again I know I might as well tell people that while I am scuba diving in the dark. I see so many people get stripped, suspended and fired and their entire financial world is in demise because the have all and I mean all their eggs in the CPD basket. It's a large world out there and many things to do for extra/other income. I am not saying quit this job but don't put all you worth into this job. I think Warren Buffet had said something similar regarding investing your money; diversify, hey but what does he know. (Cue the Charlie Brown clip where the teacher talks in a bugle to Charlie and nobody understands what she is saying).
But hey what do I know?
Goes for you too Billy.
MTS 009 3W
Intentional theft, knowingly misrepresenting frauds and investment scams,
No bid contracts on our pension's back. refusal to pay into the pension fund as required.
Someone needs to go to prison. (Daley) RE next.
Pensions are Ponzi schemes, and those of us locked into this one are about to see it collapse. First it will be the COLA, they will chip away at it. Retirees will have to take bullshit jobs as Security Guards. Everyone on the job now, grab an advanced degree or special skill because age 70 is the new 50! You will HAVE to work when you retire, at least have the City pay for your future with an education. That money too may eventually dry up. While the Entitled will continue to receive their Food Stamps and SSI checks, because the Democrats Fear them, not us. Our little Pretend Mansions in Mt. Greenwood and Garcia Ridge are valuable to us; We have something to lose. The Entitlement Crew have nothing to lose.
I've been saying it all along. You STUPID FUCKED UP DUMMYCRATIC VOTERS continued to keep these mutts in office and now you're crying.
HAHAHAHAHAHAHAHAHAHAHAHA!
For years I lived high on the hog as a Det making big overtime checks. In the past five years I had to swallow my pride and ego because I came to the realization the pension was going to be a lot less than what I was promised.
I still work a lot and get the big OT checks but the $$$ isn't going to hug end vacations and a BMW it's going into a Vangard acct. it's not deferred it's not with the city and guess what, it was very easy to do on the computer. yes, I still have deferred going but now I'm putting $$ into a seperate annuity.
Start today! You can get it up and running for as little as $50 a mo. Make increases as you can, but pay yourself first!
If you like your Pension, you can keep your pension. Just sign up at the Madigancares website.
And be sure to thank a Democrat
The faultless pensioners who over and over and over again put those politicians in office? Whoops!
Keep voting democratic and you and your family will be eating cat food. Maybe this is the plan for Chicago they have already cut the police force down by 5000 members. There is a reason for all this anti gun Illinois,there will only be two classes of people rich and poor.
A great idea !!!
Command staff (Commanders and above) should be paid their Lieutenants or Captains base pay on the 1st and 16th.
Then, pay them a "Command staff supplemental" check for the additional work of being a Commander, Deputy Chief, Chief etc.
This way, their pension would only be based on the lieutenant/captain rank.
It would be within the State of Illinois constitution.
I am sorry to say if it took you this long to figure this out then you are going to have significant financial trouble. Even if this state was run well and its not between mis management and corruption. the numbers dont work anymore avg person is retiring around 55 and living well past 70 alot into their 80s and 90s. there is no way that system could last in a perfectly run state, and Illinois is far from that. If your young enough start looking for new investments and I would not count on deferred comp.
(OT) why is it that the union Mike Shields wastes huge amounts of money on Christmas party tickets,and the union reps give them away to their friends so they can eat for free? Example I work in a small unit 26 people the union rep big shot gets 10 tickets from the union that they purchase, why not make a straight donation to the retirees? Why is this waste allowed? Mike what say you? This has been going on for years, I know but mike why does this continue? This needs to be stopped now!
Anonymous said...
Change it for new hires
12/01/2013 12:49:00 AM
As of Jan 1, 2011 it has been changed for new hires Cant retire until 55 years of age, formula changed from last 48 months to last 96 months
SB3538 changed it Big difference with last 8 yrs instaed of last 4 yrs
If we take pensions away from teachers, fire fighters, and police officers, what's next? Are we going to take checks away from the poor welfare recipients, that's crazy.
Still got double-dippers and probably still have union Barbers in the state prisons with obscene benefits.
These "reforms" are just tinkering around the edges.
The only reform that is going to have any real effect is reigning in of a lot of the already retired who receive way more then they paid in.
Originally, public service pensions were modeled to give people a modest retirement for a lifetime of public service (primarily in public safety and intrfructure). Then the politicians got a hold of it to feather their own nests and those that would get them re-elected, thus double dipping and union prison Barber's ect. with gold plated pensions.
They destroyed the system.
As a citizen, I feel for union rank-and-file for the fact the state did not make the contributions they should have, but the fact is, the rank-and-file and/or their representatives should have made it their business to see to it the contributions were made or gone out on strike. That wasn't done because most everyone was drinking the kool-aide and were evidently, for the most part, happy with the status quo.
Now we are in a world where the golden goose that laid the golden egg that made it all possible -- manufacturing -- is gone. Citizens have to finance their own pensions -- plus the overly generous union pensions -- and as a consequence are leaving heavily union states in droves.
Union rank-and-file and citizens alike have been used.
Those citizens left need take responsibility for staying in a state like this. You all have to take responsibility for not taking a stand with your leaders and the politicians for not maintaining a system that was solvent. Citizens, by and large, couldn't do it because they didn't have the collective influence & money.
Then again, it could be said we were all too busy making other plans & getting by; raising our families as the union bosses and politicians were stealing with both hands.
One thing is for sure. This State is broke and the music is going to stop soon.
Pension reform=residency reform.
Scare the shit out of them.
Pensions and decent pay were a way to keep L.E. from turning to the dark side for remuneration....so really all this political pension reform talk is telling us is that you should have been stealing as much as u could when on the street. So, bring on the Mexican Cartels, CPD and Illinois are open for business Amigos. That's not what we want is it? But with Springfield and City Hall being so inept and corrupt, a breaking down or dismantling of social fabric could produce the unintended outcome. Or is that the lefties intent, to so destabilize the norm?
Cancel all the FOP functions: Golf Outing, Picnic, Fishing Tournament, etc... Spend that money on billboards, signs, flyers and so on. Why are we picketing downtown right now?
Cut 30 alderman in 2014 . Use that money for pension fund , eliminate gold braid , 2 term limits for remaining alderman , no pensions . It's a part time job that pays 200k if you include expense accounts.
The teachers get to really abuse the pension, if he were able to make as much when we retire we would not be so afraid of this bill
Why do they refuse to ignore the 300 pound Gorilla in the room? Entitlements, Link, free cell phones ETC. Unlimited public aid for generations. Start calling them like you see them and we would all be served better. They must really think people are dumb if they believe pensions are solely responsible for this financial mess.
They all now have the compound interest COLA. That is a killer. We never had a compound COLA, simple interest only.
Watch for Rahm to try to stick it to us some how, some way.
If they eliminate compound cola for state employees and make it a simple interest cola, should we not have this parody also. we don't now "born after 1955". So if Rahm wants reform, OK then we should have parody in the cola with the state. He can't pick and choose what he wants. ARE YOU LISTENING FOP, PBPA...
Anonymous Anonymous said...
"The future is ugly". For exactly who is the future ugly? Not the citizens of Illinois if a way has been found around the public employee union pension kerfunkle.
12/01/2013 12:27:00 AM
It's ugly because the hard-earned pensions of tens of thousands of those Illinois citizens you're so worried about are going to be STOLEN from them, by the people who STOLE millions from the State already.
Anonymous Anonymous said...
They all now have the compound interest COLA. That is a killer. We never had a compound COLA, simple interest only.
Watch for Rahm to try to stick it to us some how, some way.
12/01/2013 02:35:00 AM
We have a fixed percentage cola. What the hell is a 'simple interest' cola?
It's all fun and games until there is not enough to go around.
Retirement for the masses was a ponzi scheme.
We got 70 good years out of it thanks to the baby boom demographic.
You were lied to. ......get over it.
Make other plans.
12/01/2013 01:25:00 AM
Kind of difficult to do that at age sixty, Mr. Scrooge.
Anonymous Anonymous said...
Do you notice that there are no reductions or fezzes for retirements that earn over $100 K per year. Law makers and judges will not get hurt. Only the little guy.
12/01/2013 07:13:00 AM
So now I have to wear a fez to keep my retirement benefits?
Anonymous Anonymous said...
They all now have the compound interest COLA. That is a killer. We never had a compound COLA, simple interest only.
Watch for Rahm to try to stick it to us some how, some way.
If they eliminate compound cola for state employees and make it a simple interest cola, should we not have this parody also. we don't now "born after 1955". So if Rahm wants reform, OK then we should have parody in the cola with the state. He can't pick and choose what he wants. ARE YOU LISTENING FOP, PBPA...
12/01/2013 02:12:00 PM
We already have a parody. Everything ABOUT this is a sick joke. Maybe what you're looking for is parity?
As a citizen, I feel for union rank-and-file for the fact the state did not make the contributions they should have, but the fact is, the rank-and-file and/or their representatives should have made it their business to see to it the contributions were made or gone out on strike. That wasn't done because most everyone was drinking the kool-aide and were evidently, for the most part, happy with the status quo.
-----------
And where were YOU, good citizen, when you should have been a responsible voter, helping to protect your first responders' pensions and security?
WE don't vote for these thieves!
And the reason we didn't strike is because the LAW PROHIBITS it.
We strike, we get fired.
10:09 AM is correct , this will help our pension
I remember posting in 2008 that our pension fund be belly up somewhere from 2018-2022.
I was roundly ridiculed. Most of it concerned the " state guarantee by the constitution". All nonsense as the Pols put the judges into their ivory thrones.
Prepare yourselves so when you get my age, you are not left eating cat food.
Stay safe out there and please remind the FOP - no more forgiveness on pension payments.
Also, the elected trustees should be changed, they are completely clueless.
Going for a short swim.
old retired guy
Although this all covers people in the State's Pension Systems Rahm has stated he will use the bills coming out of Springfield as a blueprint for Chicago's pension reform. All of Chicago's labor leaders should be in Springfield Tuesday for the House vote and either Tuesday or Wednesday for the Senate vote. This bill is not a sure thing in the Senate yet but once momentum takes over it could be a landslide.
Mark Donahue needs to be down in Springfield Tuesday and Wednesday to prove to us he is worth the 75k we are paying him.
O.T.
Game Over. While we bullshit ourselves China makes the next leap forward.
----------------------------------
China launches lunar probe carrying 'Jade Rabbit' moon buggy
but the fact is, the rank-and-file and/or their representatives should have made it their business to see to it the contributions were made or gone out on strike.
***********
There....see? another one who doesn't have the first clue about this issue.
LAWSUITS WERE FILED TO COMPEL THE STATE TO MAKE THEIR PAYMENTS, THOSE RULINGS ALL SAID THE SAME THING AND THAT IS THE CONSTITUTION CANNOT FORCE THE STATE TO FUND THE PENSIONS, ONLY THAT THE PENSIONS CANNOT BE DIMINISHED.
My GOD we've got a ton of people here who just have no idea that unions and employees have already BROUGHT suit against the state on this issue, REPEATEDLY.
The state constitution only protects BENEFITS, NOT FUNDING.
And if you bother to read, the new "pension fix" does nothing but CUT benefits NOW and kick the can on mandatory payments years down the road again, and also LET'S THE LEGISLATURE OFF THE HOOK ON MANDATORY FUNDING!!!!
The pension bullshit they've come up with claims employees can SUE the state for not paying, but also let's them get away with not funding it in the next breath so NO JUDGE CAN FORCE THEM TO PAY ANYWAY!!!
Anonymous Anonymous said...
Why do they refuse to ignore the 300 pound Gorilla in the room? Entitlements, Link, free cell phones ETC. Unlimited public aid for generations. Start calling them like you see them and we would all be served better. They must really think people are dumb if they believe pensions are solely responsible for this financial mess.
12/01/2013 02:07:00 PM
The City and State have problems giving us what we earned and what was promised, and we worked here as US citizens our whole lives. No such problem, however, giving illegals the whole caboodle of free government entitlements. What is wrong with that picture?
If "they" vote against "us" then "we" should vote against "them".
Got it?
Even if thier last name is Madigan, Cullerton, or Durkin.
Vote thier ass out.
Anonymous said...
Cut 30 alderman in 2014 . Use that money for pension fund , eliminate gold braid , 2 term limits for remaining alderman , no pensions . It's a part time job that pays 200k if you include expense accounts.
12/01/2013 12:13:00 PM
Chicago has 1 city council member for approximately each 56,000 residents.
New York City has one city council member for approximately each 165,000 residents. Easily three times the city council members per capita that we have here.
The same representation here would give Chicago 17 aldermen. A savings of 33 aldermen, their offices, staff, slush funds, pensions, medical benefits etc.
Anonymous said...
For years I lived high on the hog as a Det making big overtime checks. In the past five years I had to swallow my pride and ego because I came to the realization the pension was going to be a lot less than what I was promised.
I still work a lot and get the big OT checks but the $$$ isn't going to hug end vacations and a BMW it's going into a Vangard acct. it's not deferred it's not with the city and guess what, it was very easy to do on the computer. yes, I still have deferred going but now I'm putting $$ into a seperate annuity.
Start today! You can get it up and running for as little as $50 a mo. Make increases as you can, but pay yourself first!
12/01/2013 09:29:00 AM
You are smart to put your money into a Vanguard account. The best out there. Lowest fees and generally good results. I wouldn't put money in any other fund. Vanguard is the one, and I stick with their index funds.
Anonymous said...
(OT) why is it that the union Mike Shields wastes huge amounts of money on Christmas party tickets,and the union reps give them away to their friends so they can eat for free? Example I work in a small unit 26 people the union rep big shot gets 10 tickets from the union that they purchase, why not make a straight donation to the retirees? Why is this waste allowed? Mike what say you? This has been going on for years, I know but mike why does this continue? This needs to be stopped now!
12/01/2013 10:41:00 AM
I'm in a unit 20 guys same thing why is this money-wasted? Guess mike has extra cash but it's our money not his! The guy in our unit talks so much shit about how shields being a weak coward and shields still gives this clown money and every year shields gives him handfuls of active member fop stickers and fop books while members pay extra if they need them, then our guy hands them out to everyone hey Mikey what say you? You tell s that it's illegally to display fop items but yet you give them away yep mike last term!
Do you really think these fools are going to take anything away from the non-producers that voted them in.
The founding fathers had a great idea in that only land owners could vote.
The teachers get to really abuse the pension, if he were able to make as much when we retire we would not be so afraid of this bill.
What the hell you talking about? Since again there is another opinion that makes no sense.
I've been saying it all along. You STUPID FUCKED UP DUMMYCRATIC VOTERS continued to keep these mutts in office and now you're crying.
HAHAHAHAHAHAHAHAHAHAHAHA!
Please look before you speak you dumb ass. One of the Republican candidates for Governor wants to dump the pension funds for 403K. Not saying that I support the Democratics.
Anonymous said...
Call your state senator and state rep . now.
12/01/2013 12:45:00 AM
HA! That's like me telling a fine citizen in 011 to "call the CAPS office with your complaint".....does nothing. All smoke and mirrors.
12/01/2013 05:51:00 AM
Yeah that's right, do nothing then, don't even take two minutes to make a call or send an email to your Representative, that's fantastic, what a stroke. This type of apathy is why we will get trampled upon.
It's sad that some SCC threads get hundreds of comments yet something this important has 48 as of this post.
No matter how you feel about them, CPS stood together, marched and made some noise and made Rahm look weak, while public safety unions do virtually nothing but talk. We look weak too.
Anonymous said...
Why allow folks to collect a pension at 50? And you wonder why the funds are low. Make it at least 60, to keep the funds up.
12/01/2013 08:05:00 AM
Fuck you, that's why. If I want to go at 50 I should be able to go. I've earned it.
And it can only be based in a maximum amount of 105k I believe. Which gives relief to the gold braid issue.
It's all fun and games until there is not enough to go around.
Retirement for the masses was a ponzi scheme.
We got 70 good years out of it thanks to the baby boom demographic.
You were lied to. ......get over it.
Make other plans.
Hey Troll, get back in to your mom's basement
The future is ugly for the victims of both violent crime and property crime here in the city of Chicago. The Department is under staffed, the City has lied to its law enforcement officers for the last 10 or 20 years by signing legal binding contracts they knew they had no intention of honoring, the complete lack to support from the City and the Department's leaders has resulted in a line level law enforcement officer who is not willing, and in some cases not able to properly enforce the law.
For years I lived high on the hog as a Det making big overtime checks. In the past five years I had to swallow my pride and ego because I came to the realization the pension was going to be a lot less than what I was promised.
I still work a lot and get the big OT checks but the $$$ isn't going to hug end vacations and a BMW it's going into a Vangard acct. it's not deferred it's not with the city and guess what, it was very easy to do on the computer. yes, I still have deferred going but now I'm putting $$ into a seperate annuity.
Start today! You can get it up and running for as little as $50 a mo. Make increases as you can, but pay yourself first
12/01/2013 09:29:00 AM
//////////////////////////
Additionally, be sure to get a separate life insurance policy while you are still young. The city insurance carrier will rake you thru the coals on a $75k life conversion policy at retirement. And unless you are in perfect health that's all your getting is. $75k for about $270.00 a month!
Plan for your retirement now while you are still young.
If they eliminate compound cola for state employees and make it a simple interest cola, should we not have this parody also. we don't now "born after 1955". So if Rahm wants reform, OK then we should have parody in the cola with the state. He can't pick and choose what he wants. ARE YOU LISTENING FOP, PBPA...
Yes he can. State police pension is based on their last days salary, not the average of the last four years. Talking about our pension and the states pension is like talking about apples and oranges.
""Should we not have this parody also.we don't now born after 1955""
My comment here is a parody on your comment above. There is no parity between the two...
Why allow folks to collect a pension at 50? And you wonder why the funds are low. Make it at least 60, to keep the funds up.
Also wage compression to 12-15 years maximizes pension fund contributions.
No body is talking about all the taxpayer money that was legally required to be paid into the funds that was pissed away into who-knows-what. No one is looking or asking Daley, Madigan and all the others what they did with those billions.
"So now I have to wear a fez to keep my retirement benefits?"
12/01/2013 04:02:00 PM
What's the alternative?
A turban with a dunce cap sticking through it?
O_o?
Be smart and move out of the State.
Raising minimum age to draw pension benefits from 50 to 60 is not only unfair, it is entirely unwise and let's the state continue to mismanage to the point of insolvency all over again.
Understand what a pension recipient has earned at 50, and stop disseminating false information that causes the public to resent us for something that isn't true.
Unless an officer came on the job very young, he more than likely will not retire at 50. 20 years only gets you 50 percent.
It would be interesting to know at what age and with how many years of service, what percentage of those who put in for retirement fall into the 50 year-old bracket...
Judging by the bulletin retirement announcements every month, very few lucky souls pull the plug at 50.
But understand this much before you go around announcing how good we have it; Thanks to this job, you don't live very long. That's why 50 seemed fair and reasonable.
God bless the guys and gals who take the system for more than they put in but that's a statistical improbability.
Understand that. Thanks to stress, poor health, lifestyle, and stress...and more stress, the average life expectancy for police officers is 66, or within 5 years of retirement.
That is why the second largest contribution to our fund, after employee based deductions is from unused benefits due to death.
It's a strange relationship. If you just wanna make 20 and go, chances are, you're not 50 and also, it's not enough to retire.
If you wanna do 20 and go somewhere else, you're not that desirable at your age to another agency (past the max. age limit).
so you stay and you pass the point of no return and you hope for that second wind because, even though you said you wouldn't, there you are, pushing a beat car into your 50's...
pension? You'll be lucky to see 66.
vote any state rep out of office who is going to vote against us fran watch out the 19th ward is watching
..."You are smart to put your money into a Vanguard account. The best out there. Lowest fees and generally good results. I wouldn't put money in any other fund. Vanguard is the one, and I stick with their index funds."...
My opinion only. Look cautiously at index funds in this current fiscal environment. If it is true that we are in a stock market bubble fueled by the Federal Reserve then things could get REALLY ugly.
NC
GOP Rauner wants to cut your pension What a rich Turd
If you like your Pension, you can keep your pension. Just sign up at the Madigancares website.
And be sure to thank a Democrat
12/01/2013 09:31:00 AM
Thanks for the laugh!
lets lift residency after 7 yrs of service ,wake up people!
12/01/2013 08:36:00 AM
Nice try. You must have been hired in 2006.
nothing like watching a 60 year old copper tossing a car and chasing a buck wild 22 year old gangbanger down the street--- their is a reason why police officers and firefighters can retire at a younger age than the general working citizen--- nobody came on this job to get rich but we do expect the city to honor it's promised benefits package which was offered at the time of our acceptance of employment--- the city agreed to the wage compression from 32 and a day to 29 and a day--- the city agreed to the 55 and out insurance deal--- the city wants to push limited/light duty officers into a disability pension--- all of these things made officers retire earlier and draw an annuity earlier--- now they wonder why the fund is insolvent, who the f#$k are they trying to kid ????
Change it for new hires
12/01/2013 12:49:00 AM
-----
That's a brilliant idea. You should be king of the world. You will pay into YOUR pension then... do you even know how it works???
For years I lived high on the hog as a Det making big overtime checks. In the past five years I had to swallow my pride and ego because I came to the realization the pension was going to be a lot less than what I was promised.
I still work a lot and get the big OT checks but the $$$ isn't going to hug end vacations and a BMW it's going into a Vangard acct. it's not deferred it's not with the city and guess what, it was very easy to do on the computer. yes, I still have deferred going but now I'm putting $$ into a seperate annuity.
Start today! You can get it up and running for as little as $50 a mo. Make increases as you can, but pay yourself first
12/01/2013 09:29:00 AM
//////////////////////////
Additionally, be sure to get a separate life insurance policy while you are still young. The city insurance carrier will rake you thru the coals on a $75k life conversion policy at retirement. And unless you are in perfect health that's all your getting is. $75k for about $270.00 a month!
Plan for your retirement now while you are still young.
Deferred idea is a great one. Start early, put it away and let it grow.
I did that, but as far as a life insurance policy, just get a 25 year term policy when you are in your 30's or 40's Lower premiums and after you retire with your pension and deferred and hopefully your kids are grown and gone, an insurance policy of $75K really isnt needed. Doesnt do more than bury you and a few months of expenses
Anonymous said...
Cut 30 alderman in 2014 . Use that money for pension fund , eliminate gold braid , 2 term limits for remaining alderman , no pensions . It's a part time job that pays 200k if you include expense accounts.
12/01/2013 12:13:00 PM
Wake up! Wake up!, you are dreaming. Will never happen. That would be like having the CPD cut manpower by 60%
1st of all this bill is bullet proof in the house of Representatives. So Reps like Hurley can vote against it and it will still be veto proof.
The Bill is weak in the State Senate thou. That's where the We Are One lobby should be focused.
Mark Donahue needs to be down there with ALL of the other labor leaders fighting this. Yes it only pertains to State Employees but Rahm will use it a a blueprint for us.
Keep calling your reps and state senator's offices to voice your opposition to this bill. Especially their Springfield office
GOP Rauner wants to cut your pension What a rich Turd
12/02/2013 06:37:00 AM
You have no idea what you are talking about, but I am sure that never stopped you before. What's the alternative? Keep voting Democratic? It has done wonders for this City.
If you are going to bang the guy, offer the alternative. Who is the lesser of all the evils?
Geez, I don't know whose comments to respond to at this point but I agree on one thing. Enough free fucking cheese and cellphones for these mother fuckers already. My wife is from Colombia and she can't believe all the handouts there are here in Illinois. She sees the people standing on the side of the expressway ramps and just shakes her head and ask me why they do that.
I just laugh with her when I am getting 5 hours of sleep from working and taking care of my family. How easy it would be to just make up a sign and quit. But they will never stop with the free housing (SEC 8); and SNAP. I can't believe free cell phones now too. What's next? Free gas? Free oil changes? Shit why go to school or start a business. I am so glad I am no longer dependent on this job. I could lose it tomorrow and start making more money.
People need to do their homework. PBPA and FOP are active on this. Check their websites and Facebook pages. Additionally there are sites hosted by We Are One Illinois and www.firstresponderspensionfacts.com. Both can be followed on Facebook. Go to those sites, call your elected representatives.
Calls to the legislators can be very effective. We have used this tool in the past and it has worked. This pension vote may come down to one or two votes. They might have convinced to vote NO had they gotten your call. Take five minutes out of your day and call before it is too late.
It's only a dream , we'll wake up to a nightmare .
Thanks
I look cute in a fez.
Now, kees me you fool!!!!
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