Who Are the Teachers Voting For?
If they live in Chicago, we doubt it's going to be Rahm:
- Human error has delayed pension payments to retired Chicago teachers, according to the Chicago Teachers’ Pension Fund.
Most of the 26,000 teachers in the fund may not have received the direct electronic deposit of their August pension payment, said Jay Rehak, president of the fund’s board of trustees.
He said computer files that were supposed to be sent to the bank for the deposits were not sent out in a “timely manner.” That “human error” caused a delay in the direct deposit system, he said.
The fund expects automated payments to be deposited by Tuesday at the latest.
So that's another payday missed by the City. We think (but we could be mistaken) there were special checks, a VRI date, the sergeant retro, the DSS grievance win, and we aren't sure if they paid the NATO grievance money even now. Incompetence, top-to-bottom.
Labels: money questions
posted by SCC at 12:01 AM
26 Comments:
How empty were the teacher's pension fund accts on July 31?
An extra day to transfer money between accounts is all you sometimes need to keep kiting checks.
What a fucking joke...did the time to click the "submit" button change last month? Bullshit, someone ordered this alleged "human error" to occur.
Rham runs a city like Obama runs a country..........they don't.
Ha. So the teachers' pension payments were not made? Interesting?!? As a CPS teacher who worked summer school CPS skipped one of our paydays. It was made up in the following paycheck but when it is payday are not employees to be paid for their work? What is happening?
And all the teachers I know love Rahm and will campaign and vote for him. NOT!
Keep up the great work Second City Cop!
Incompetence or lack of funds. It would look bad to issue thousands of checks and have them bounce.
Mini mayor also knows that the interest builds up on all these "delayed" payments.
26,000? Is that the number of retired teachers? Wow!
FTO's still waiting to get their grievance heard
I don't think the money is an issue. But, it sure looks good the Emmanuel flock of buffoons when he says "the pensions are broke, and so is the city, and...its all you city workers faults. You all now have to bleed for a city I love and grew up in. The wedding dress was proof of how Chicago I am. Vote for me." This mayor makes me physically fucking ill.
Nobody makes an error like that by accident, done by design to let Jabba know that Rahm is in charge.
I don't know about the other pensions, but the Chicago Teacher's Pension Fund I don't think plays around with this. I take it at face value that it was an error.
As for the Rahm vote, I know of no other teacher that will vote for him. I teach high school and he's very well hated.
Anonymous said...
Rham runs a city like Obama runs a country..........they don't.
8/03/2014 02:27:00 AM
I disagree.
Rham runs a city like Obama runs a country..........into the ground.
It's called floating to make up interest most business in the private world will hold your money as long as they can. Big money held for even a couple days makes for a nice interest payment.
Sounds like you are trying to make a problem that does not exist. The city had nothing to do with this. This was a problem caused by an error of the CPS pension fund. The pension fund did not send the required data to the bank regarding those teachers that didnt get the direct deposit. Once again, has nothing to do with the city. As far as kiting checks, bs, the checks come from the pension fund which is not broke, at least not yet.
Interest builds up on a few thousand pension checks for a few days. At current interest rates, the mayor could buy himself a lunch if hes lucky.
Not a big story here.
Hello Karen Lewis where you at? Will rahm talk to you offer you something to withdraw like he did with Toni periwinkle? Wonder what was going to be exposed on Toni? Karen lets hear you roar! Fund the pension, talk about dean the disability king Angelo not getting us a contract! Was dean promised something for his silence?
The checks in the mail.
....I can't swallow that one.
Never received nato grievance money.
Quit bitch-en in 1979-1980 teachers went for six weeks without being paid.that was a stark Christmas.
I have it on good authority that no computer glitch can cause a five day delay in payments.
26,000? Is that the number of retired teachers? Wow!
----
26,000 was also how many we had working in 2012. They keep cutting and we are probably around 24,000 now. They are going to cut the cps right into Detroit level funding. CPD numbers down. Not good for crime or officer safety, but definitely not good for a healthy pension system. Coincidence????
NATO grievance paid already
Anonymous Anonymous said...
Sounds like you are trying to make a problem that does not exist. The city had nothing to do with this. This was a problem caused by an error of the CPS pension fund. The pension fund did not send the required data to the bank regarding those teachers that didnt get the direct deposit. Once again, has nothing to do with the city. As far as kiting checks, bs, the checks come from the pension fund which is not broke, at least not yet.
Interest builds up on a few thousand pension checks for a few days. At current interest rates, the mayor could buy himself a lunch if hes lucky.
Not a big story here.
8/03/2014 11:44:00 AM
No, not a big story here unless you have rent to pay, a mortgage payment, college tuition due, a car payment, an electric bill, maybe doctor bills or insurance bills or car repair bills. Not a big story except for those checks that are bouncing and costing thirty bucks a pop in fees. Nope, not a big story at all. No big deal. Just people's lives.
Anonymous Anonymous said...
Sounds like you are trying to make a problem that does not exist. The city had nothing to do with this. This was a problem caused by an error of the CPS pension fund. The pension fund did not send the required data to the bank regarding those teachers that didnt get the direct deposit. Once again, has nothing to do with the city. As far as kiting checks, bs, the checks come from the pension fund which is not broke, at least not yet.
Interest builds up on a few thousand pension checks for a few days. At current interest rates, the mayor could buy himself a lunch if hes lucky.
Not a big story here.
8/03/2014 11:44:00 AM
No, not a big story here unless you have rent to pay, a mortgage payment, college tuition due, a car payment, an electric bill, maybe doctor bills or insurance bills or car repair bills. Not a big story except for those checks that are bouncing and costing thirty bucks a pop in fees. Nope, not a big story at all. No big deal. Just people's lives.
Dont think the poster said it was not a big deal. Think his point was that it wasn't the city that caused this,but the Teachers Pension Fund. The Fund screwed up, not the city and the teachers should consider that when the elect the trustees of the Fund
Anonymous said...
What a fucking joke...did the time to click the "submit" button change last month? Bullshit, someone ordered this alleged "human error" to occur.
8/03/2014 12:47:00 AM
Not sure about that. With this conspiracy theory,wouldnt they have not issued all the checks? Why just a few thousand?
Anybody who would vote for Karen Lewis would have to have a few screws loose. She is about as "progressive" as they come.
It's too late for this city....get out while you can! Iam out of here next June.
I work for a private company that pays the bulk of its invoices electronically. I'm the only person working in accounting, and when I go on vacation I pre-schedule those payments so that they go out on time. Unless, of course, I'm instructed NOT to pay people that week by higher-ups. Sounds to me like this "human error" was engineered.
More of this is coming.
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