Rahm's Bright Idea - Statewide Relief
- Mayor Rahm Emanuel is lifting the veil a bit on how he intends to deal with the other half of Chicago's pension woes. And the financial crisis for Chicago's police and firefighter retirement plans has been delayed, at least a little.
In a phone interview a day after Gov. Pat Quinn approved a financial restructuring of two of the city's four pension funds, Mr. Emanuel strongly suggested that the solution for the badly underfunded police and firefighter funds lies in legislation that would apply not only to sworn personnel in Chicago but also the suburbs and downstate.
Brilliant.Daley can't keep a lid on spending, burning through money to enrich the connected, the Rahm is going to try to stick everyone else in Illinois with the bill. Look for some push back on this from suburban lawmakers and maybe even another attempt for Illinois to divest itself of Chicago, Cook County.
Labels: pension
posted by SCC at 12:03 AM
37 Comments:
Vote this motherfucker out!!!!!!
When the rest of the state turns down Rahm's idea, he will go to the citizens of Chicago, tell them that because of the mean old greedy police and fire, property taxes will have to be raised to cover the pensions, because the police and fire don't want to contribute anymore.
It does sound like the problem has a statewide foundation, and that a statewide solution is appropriate.
This is what you get when criminals take control of government.
The question of whether a city can secede from a state has been examined in academia before. The answer, generally, is no unless there's a special act of congress that accepts it as a Federal territory.
The only way its even theoretically workable from a governance standpoint is if Illinois were split into two, new states.
Those kinds of ideologically ambitious plans died 100 years ago. In this era, won't ever happen.
"Help me fuck these coppers in Chicago by fucking the coppers in your towns and villages state wide..."
Uh-huh...
Good luck on getting these midsized and smaller mayors and city managers to agree to a seppuko pact to help YOU out Rahm!
Unlike you, they live amongst the Police officers you actively advocate fucking out of a pension.
>LOLZ at the idea of shots being dropped and other mischief in small town Illinois behind Rahm's deliberate tone deafness<
I'm not going to pay for that.
I won't along with nearly 10 million others in the state won't ethier. From what I understand there is a 600 million plus balloon payment due on the pensions
As you have point out he has 1.7 BILLION in a TIF account he is just going to have to bite the bullet and spend it
It's always easier to spend the the other guy's money.
True. Municipalities in DuPage and Kane Counties have been lobbying downstate with City of Chicago. Remember IF the pension plans are reduced, ALL MUNICIPALITIES will benefit financially. It's a no brainer.
So does that mean that VRI will also have a roll call in Urbana, because we are now employed by the state taxpayers?
America
He is an arrogant bastard, isn't he?
Glad I moved to Indiana!
Lest we forget...
The CPD proposed through FOP many years and many times back in the day to increase our pension contributions in light of the projected future underfunded liabilities.
It was the City, under Shortshanks that refused to address the issue as it would likewise require an increase in their required contribution. (Then again,we all know city's record for contributing their required matching share.)
I'm sure 'most' members would agree to a 1-3% additional pension salary contribution IF it would bail out and guarantee our pensions.
(Then again,we all know city's record for contributing their required matching share.)
Let TRUMP come up with the pension money-Rahmbo according totodays Tribune isn't happy with that ridiculous TRUMP lettering on that hideous buiding he built...
The Donald has to pay to play in Chicago-he must know that?? Or is he dumber than he looks?
If they get away with this pension theft you can bet your sweet ass that social security will be next.
That so-called "trust fund" has been raided just like the pensions.
All that needs to be done is to let the crisis get a lil' larger. Then, by threatening bankruptcy the crisis can be used and not allowed to go to waste.
Then the tool of morality can be used as we are trying to save us something.
Rahm has over $7 mil in his personal bank account we hear and we have certain unions giving him campaign donations WTF is that about!?
BTW we don't have to wait to send a message at the voting booth.
VoTE with your money!
Find the largest campaign contributors AND STOP DOING BUSINESS WITH THEM.
VOTE WITH YOUR MONEY!
Sounds to me like another version of the proposal from a few years back to forcibly roll all of the municipal pensions into the state pension system... which is basically just Chicago, Cook and Illinois stealing money from pensions that are currently in the black to slow the bleeding of the ones that aren't.
It's not municipal cops fault that State and Cook/Chicago politicians can't manage their books. Keep your filthy crooked hands out of the municipal pensions, Rahm!!!
Why won't anyone in the media address using TIF funds to meet the pension obligation?
The FOP needs to launch a city wide TIF education campaign. 9 out of 10 people don't know what a TIF is.
The general public may be less likely to buy Rahm's BS about there being no solution but to raise property taxes if they knew TIF funds were available.
Our friends to the east have 100 million dollar surplus this year and 2 billion in the bank.
What do they have that we do not?
No full time legislators
While this isn't exactly fair to the rest of the state maybe it wil finally fire people up enough to vote out these thieving politicians.
If what's happened to our pension finds was caused by anyone other than these thieving politicians the responsible parties would be in jail.
The onus on digging these pensions put from near extinction surely should not fall on the pensionee's who faithfully and without fail always contributed their fair share.
Typical sleazy politician always looking for someone else to bail them out.
Maybe Shortshanks ought to forfeit 1 or 2 of his pensions to slightly help repay all the money he and his friends stole, and allowed to be stolen, from the city.
Oh, to see Chicago (and Crook Co) divorced from the rest of IL.
I'd be okay if it were enforced with a moat and a no-fly zone. Give up the museums and such in return for getting The Machine out of IL?
A bargain at any price.
The CPD proposed through FOP many years and many times back in the day to increase our pension contributions in light of the projected future underfunded liabilities.
It was the City, under Shortshanks that refused to address the issue as it would likewise require an increase in their required contribution. (Then again,we all know city's record for contributing their required matching share.)
I'm sure 'most' members would agree to a 1-3% additional pension salary contribution IF it would bail out and guarantee our pensions.
(Then again,we all know city's record for contributing their required matching share.)
SB 3538 passed 3 1/2 years ago that guarantees that the pension will be at 90% in 2040. That is why the city has to put in the 600 million payment next year and continue making payments until 2040. Its mandated they if the city does not make those payments,the money will come from their share of the stat6e taxes, not allowing the state to give the city its share,but to put the money in our pension. The problem is Rahm doesnt want to do this so we would you even consider raising your contribution share when the city is already trying to renege on SB3538. That is just plain stupid becauise it could not come with a guarantee. It would just make you contribute more and the city less.
If absolutely NOTHING is done we already have SB3538 and the pension will be solvent by 2040 to the tune of 90%.
When Chicago spent its pension money on the mayor's pet projects
A decade ago, city leaders acted like we didn't have a care in the world.
http://m.chicagoreader.com/chicago/city-council-aldermen-daley-spent-pension-money/Content?oid=13115134
Why doesn't anyone say anything about the legislatures pensions?? They are the most lucrative most obscene pensions in the state!!! If we don't get any pension relief they shouldn't either!!! Let's start asking questions huh??? Protest everything until they pay there fair share!!!
What are you prepared to do when the city does not make our pension payment?
It does sound like the problem has a statewide foundation, and that a statewide solution is appropriate.
6/12/2014 12:17:00 AM
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Get your head out of your ass.
Want to talk "statewide"? If you start asking for money from everyone else - everyone else should get a vote on both the Mayor and the aldermen - only the first thing would be to shrink the City Council to a more "manageable" number like 20 or 25.
Statewide solution? No taxation without representation.
AND - don't think every municipality is in the same Shit Storm as Chicago when it comes to lack of pension funding.
Ours is solvent and backed up 100%. There is no shortfall. What are we supposed to do?
Combine our money with yours and then find out now we are shorted by 30-40% like you are, but now you have OUR money in your "combined" fund?
Stop sampling the drugs you take off the crack pipe crowd.
Everyone should have seen this coming. Just tax everyone in the state or everyone in cook county. Spread out the theft a little more. That's how it works.
Who's going to mount the fight to save $100? Just a $100 a person, that's $520 million in the first year alone minus collection costs to tax everyone in cook county. The more the tax is spread out the less of a fight would be put up. Just a another $100. It will cost any individual many times more than that to fight it. Only other government entities eying it may fight.
These folks know exactly what they are doing.
Just need some sympathetic stories to sell it to seal the deal.
Illinois is a leader in pension shortfalls, perhaps leaving the state is a good idea.
http://davidstockmanscontracorner.com/another-fiscal-time-bomb-public-pensions-a
ssume-perpetual-bull-market/
For you other than Chicago PO trust me, the Cities through out the State are going to do the same thing. Mattoon and Danville's Mayors were pitching this same idea last month.
Looks like pbpa sergeant union knew what they were talking about .
This is what we get for living and voting for these politicians in Ill. they are ruthless, Rahm is a dirty little fucking asshole who has nothing to worry about, he can throw the dice and walk away, he is wealthy, family is wealthy. he now is involved with Trump over the size of a sign, because he wants all his new signs to glow around his new riverwalk path they are building, this guy is all EGO, and thinks this is Hollywood.
Don't be too quick to dismiss this suggestion by Rahm. suburban and small town Illinois Mayors are all calling for police pension fixes. This is a possibility.
The CPD proposed through FOP many years and many times back in the day to increase our pension contributions in light of the projected future underfunded liabilities.
It was the City, under Shortshanks that refused to address the issue as it would likewise require an increase in their required contribution. (Then again,we all know city's record for contributing their required matching share.)
I'm sure 'most' members would agree to a 1-3% additional pension salary contribution IF it would bail out and guarantee our pensions.
(Then again,we all know city's record for contributing their required matching share.)
Dont listen to that bullshit about contributing more. City is fooling and scaring you into paying more so they can pay less. Check out the link below which explains it.
http://www.civicfed.org/civic-federation/blog/senate-bill-3538-police-and-fire-pension-reforms
The CPD proposed through FOP many years and many times back in the day to increase our pension contributions in light of the projected future underfunded liabilities.
It was the City, under Shortshanks that refused to address the issue as it would likewise require an increase in their required contribution. (Then again,we all know city's record for contributing their required matching share.)
I'm sure 'most' members would agree to a 1-3% additional pension salary contribution IF it would bail out and guarantee our pensions.
(Then again,we all know city's record for contributing their required matching share.)
Dont listen to that bullshit about contributing more. City is fooling and scaring you into paying more so they can pay less. Check out the link below which explains it.
http://www.civicfed.org/civic-federation/blog/senate-bill-3538-police-and-fire-pension-reforms
Checked out the link Its a done deal with no changes to our contributions. Its the citys turn to make more contributions to make up for past wrongs
don't get sucked into the let's ALL get into the pension bailout together-Only the money handlers will make any money not us
Don't faal for the let's all bail the pensions togethger-ONLY the money handlers will make any money not us and our pensions will be in worse shape and the money guys will smile all the way to the bank.(that they already own)
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