Pension Changes "Void"
- A Cook County judge on Friday overturned the city's changes to two pension funds, declaring them "unconstitutional and void."
In her ruling, Judge Rita Novak dismissed city arguments that the changes to the two pension funds amounted to a "net benefit" for retired workers because the city was guaranteeing the funds would be there.
The state constitution, she wrote in her 35-page opinion, "removed diminishing benefits as a means of attaining pension stability." The city, under the state constitution, already is obligated to ensure pension funding because pension promises are "a contractual relationship between the employer and employee," the judge said.
Novak also rejected the city's contention that because at least 27 of 31 affected unions agreed to the changes, it was a "bargained-for" change.
27 of 31 unions agreed to changes - and a judge overturned it.
Corp Counsel has already said they are appealing to the State Supreme Court, but the opinion cited at this level is taken directly from the previous Supreme Court ruling, so it's an uphill climb for Rahm.
Corp Counsel has already said they are appealing to the State Supreme Court, but the opinion cited at this level is taken directly from the previous Supreme Court ruling, so it's an uphill climb for Rahm.
Labels: pension
posted by SCC at 1:31 PM
103 Comments:
just wasting more taxpayer money on the obvious.
US Congress man Quigley voted in favor of illegals
http://moonbattery.com/?p=61123
What happens when the money isn't there?
You can tax people all you want, but when the taxpayers leave, there will be no one to pay the taxes to fund your pensions.
Just ask Detroit, Stockton and Birmingham
Problem is that this ruling took over a year and the appeal to the ISC will likely take as long.In the meantime Rahm does nothing for the pensions but continue to plead poverty.
Cash out and close this pyramid scheme. No more checks to be sent out.
How much money will this appeal cost?
How will Chitcago fund your pensions?
Keep raising taxes? Your taxpayers are already running out the city as fast as they can.
Maybe they can find some fools to buy tax-free municipal JUNK bonds? Ask the folks in Greece how that ends...
It's a waste of time and money.
How about the changes to health care being reversed while we're at it!
who changed our 3 percent cola to 1.5 percent?that is unconstitutional then too!WE GOTTA FILE FOR OUR 3 %!UCANT ALTEROR DIMINISH WHICH WAS DONE!!
Thank you Judge Novak
We win game over !
I hope it forces that little rahmsucker mayor of ours to pay what the State mandated he deposit into our pension funds next year.
Thank God Almighty!!!
The Corp Council won't fight police lawsuits but they'll waste taxpayer dollars on a losing case. Good practice for the losers at our expense.
Retired
Good news, for now.
We beef and rightfully so, about Crook County judges beholden to the Dem Party.
We should likewise remember Judge Rita Novak for sticking to the point of law in making her decision. That's unusual in this city in this day/age.
Let's give her a 'thumbs up' recognition and to the rest of those bought and influenced judges...the 'middle' finger.
SCC-Your last paragraph is salient. If the judge's ruling cites previous case law from the Supreme Court, the Corp Counsel is dragging out the process. Another stalling tactic and another way to keep more lawyers occupied. This is a costly tactic. Why not accept the fact and move on (and apply the funds to the pension debt) ?
Not Rahmulus Ist. He'll call more press conferences which the media lapdogs will dutifully report. He'll use it as a speech topic when running for Vice President or Senator or a cabinet post if Her Thighness is the dem nominee/victor. Why doesn't the next judge rule that the city's position is frivolous and toss out the appeal? Guess the judges realize that it keeps more "liars" employed.
Thank you for keeping us informed. Since Deano is too busy accepting the "Quest for CALEA" while the still active officers are occupied with the changes - the pension issues are relegated to the back burner.
"Eternal Vigilance Is the Price of Freedom" {and our pensions}
Why didn't the unions sue when the pensions were not being funded as required by law?
There was a link to a report posted here several weeks ago that showed the required funding versus the actual funding. Anyone still have the link? I think it was the City Club, or Civic Club report from a few years ago?
Net benefit because they were guaranteeing something already promised - I had to read that twice. This city is so fucked up it's almost laughable.
--No Cop Here
The real threat here is what is implied in the comments by city corp counsel Patton during these hearings. He stated that the city has no obligation to fund any of the pensions beyond what is called for in the law. But, actuaries have stated that this will not be enough to keep the funds from going insolvent in under 10 years. All of the funds with the exception of the alderman. Patton stated that if insolvency occurs the fund will pay only pennies on the dollar. Where do we go from here? The mayor does not want to raise taxes to fund the pensions. The board of education and the teachers fund is billions in the hole and near bankruptcy. Thank you Daley.Things were find until you took office.
Raise the retirement age to 65 Also raise the minimum age to 55..
The issue isn't constitutionality. The issue is how far rham, rauner and msall will go to try to cheat you out of EARNED benefits. How many times must they waste their time on this...they will appeal it until they find a corrupt judge. There is real hate towards first responders here, as well as other government union members. Remember this hate. One point made was unions can't agree to this kind of shit without input of members, including retirees.
I wonder if the phony casino money agreement goes out the window with this. The "future" casino that hasn't been built yet
Rahm Emanuel immediately shit his pants in rage
because it has become evident that his plan to quickly
steal Chicago muni employee pension monies and
disburse them among his bankster/doers of financial
bojankery friends and campaign contributors for a tidy
remuneration back to Rahm himself, is taking too fucking
long and is drawing too much unwanted attention.
Rahm feels not unlike ol' alley-cat finally caught digging and taking
a shit among Aunt Granny's lovingly tended flowers...
O_o?
>The sound of a Chesterfield "cigareet" falling from
Aunt Granny's perpetually pursed lips in horror<
"Dafuk you doin' up in heah?"
>The unearthly sound of holy hell being paid<
Rahm promised a LOT of very RICH and very INFLUENTIAL
people that he could do what was needed to take "all that free money"
away from the muni employee churls.
The "1-Percentahs" deeply resent the fact that nation-wide, all those
Multiple Billions of Dollars are just sitting there doing nothing for THEM!
So many are in on the planned forcible divesture of muni employees.
The media and the elected official class especially, have hotted-up the
Anti-Muni Employee fire and stirred the War Against The Police pot with
such vigor that smoke alarms are going off everywhere...
Oh well... Rahm can always release yet another list to dirty-up The Police.
The city says they're going to appeal the decision by a judge who essentially
parroted what was held by SCOIL that pensions are a binding contract and
cannot be impaired or diminished. Period. Full Stop.
Funny... Rahm isn't investing the same energy in impairing or diminishing that
money-sucking hydra of a Parking Meter lease foisted on this city by
Shortshanks.
Oh no! A deal is a fucking deal when it comes to assholes
who run in the same money conjuring circles with Rahm al-Ghoul.
Rahm al-Ghoul's national ambitions have turned from a thing
of beauty to a grinning, wig wearing skeleton sitting in a rocking chair
in the front room.
>Creak... Creak... Creak...<
What now, Rahm?
What's the next gambit?
Rahm picked this unnecessary fight because he was
counting on an easy win.
Sincere Thanks to all parties involved in getting this over turned. And to the misguided $^!^#&#& that voted for our last pension, never let them claim they got you by the balls! Always fight them f*ckers to give us what we earn. You can see the job ain't getting any easier. God Bless & all be safe
025/Grand and Central 1st watch
Lt. J.Z. is going to another unit. He is a good man and a good boss. Too often coppers love to lambast bad bosses but never say a good word about good bosses.
Check out this video from New York. This is fucking bullshit. Why does the black community feel that they can now resist arrest and fight us. By the way, his partner was completely USELESS.
https://www.youtube.com/watch?v=fEkqUEMjs5U
Now an appeal to Illinois Supreme Court, Ann Burke presiding. Hmmmmm.
The City failed to live up to its pension commitments and won't pay because it costs too much.
Can I do that with my water bill? How can I appeal that the water I've paid for is no different than past 10 years, yet it keeps costing more?
Don't blame me, you wanted Rahm, you got him.
How come no Aldermen aren't stepping up and telling Rahm to "knock it off" and pay up or stop approving his wasteful bridge, parks and stadium spending.
The sure love spending time beating a dead horse, Rahmbo must be getting really anxious about raising taxes !
Nevertheless here come the tax increases....
Chicago Netflix customers: Your bill is about to go up 9 percent
Starting Wednesday, the city of Chicago’s new "cloud tax" went into effect: it imposes a 9-percent tax on "patrons of amusement," including those services that are "delivered electronically."
In short: Netflix users in Chicago will be paying a little extra for their subscriptions pretty soon.
"We will be adding it to the cost we charge subscribers," Anne Marie Squeo, a Netflix spokeswoman, told Ars in a statement. "Jurisdictions around the world, including the US, are trying to figure out ways to tax online services. This is one approach."
She declined to respond to further questions.
To be clear, the "Amusement Tax Ruling" applies to a number of digital services, including Netflix. As it states:
The amusement tax applies to charges paid for the privilege to witness, view or participate in an amusement. This includes not only charges paid for the privilege to witness, view or participate in amusements in person but also charges paid for the privilege to witness, view or participate in amusements that are delivered electronically. Thus:
a) charges paid for the privilege of watching electronically delivered television shows, movies or videos are subject to the amusement tax, if the shows, movies or videos are delivered to a patron (i.e., customer) in the City (see paragraph 13 below);
b) charges paid for the privilege of listening to electronically delivered music are subject to the amusement tax, if the music is delivered to a customer in the City;
c) and charges paid for the privilege of participating in games, on-line or otherwise, are subject to the amusement tax if the games are delivered to a customer in the City.
Elizabeth Langsdorf, a cityspokeswoman, told Ars by e-mail that this new "ruling" is consistent with current tax law and is "not an expansion of the laws."
"The City has issued limited official guidance on digital access to entertainment and information," she wrote. "As a result, some online providers of movies, music and games have collected amusement tax, some lease tax, and some no tax. In addition, some online providers of financial products and other databases have collected lease tax, but many have assumed that they were exempt. The City's new rulings clarify the application of taxes to digital goods to ensure consistency and eliminate revenue gaps."
She also said that Chicago expects to take in $12 million per year due to this new tax ruling.
The ordinance says that the city will use a person’s billing address to determine whether or not the tax should be levied upon them.
In addition, Chicago is facing a massive budget shortfall largely due to school district pension payments.
You've got out-of-town friends, right?
Edward Kleinbard, a tax law professor at the University of Southern California, told Ars that he had never heard of such a tax anywhere else in the United States.
more : http://arstechnica.com/tech-policy/2015/07/chicago-netflix-customers-your-bill-is-about-to-up-9-percent/
We need to see reality for what it is and not for what we want. The time to hold the city accountable was thirty years ago when they slowly were walking away from their pension obligations. Now it is too late. To think that you are going to get $60,000 per year with an annual 3% increase that compounds is living in a fantasy land. We rank #50 in pension funding. The time to speak up and make noise was thirty years ago. Now it's too late. See reality for what it is and not for what it should be.
http://www.chicagobusiness.com/article/20130110/NEWS07/130109847/pension-fund-rankings-by-state-were-no-50
Bankruptcy is on the way. The City of Chicago is playing a Monopoly game and the FOP's master plan is to stay in jail. One more FOP election before the pension poop hits the fan. Which retiree will be in charge?
The daley crime family,along with all the other demorats...STOLE from our pensions to line their own pockets, and those in the good graces."Proud union home" my ass. These fuckers are worse than the english that fucked your people back in the day.
Dirty rotten assholes.Don't forget to vote them all back in next election sheep.
I appreciate the win. Really I do. But can we now shore up the pension funds already?
Our gp from R&D went out of town for a little vacation Thirsday and Friday
Not at work but the A&A's show she's here
WTH
Video of New York plain clothes officer fighting with an offender that was resisting arrest. Look at all of the number of people all around them. This is not a game. If the crowd of spectators wanted to turn on the officers or disarm them, they could.
https://www.youtube.com/watch?v=7NasTVEY0iU
Keep on wasting money mr failure as a mayor. Pay up, shut up. Cut some benefits for the welfare suckers. Stop building parks and bike lanes. Quit building flower pots and stop putting fences around parks. No parks inside a park aka maggot Daley park. Pay up you worthless democrat drone.
You have to realize that the unions are selling the current pensioners out to benefit the future pensioners. They don't represent retirees there is no contract. When the new contracts were approved the retirees never,never got a raise or additional benefit that the current workers got. You were always told that you only get what you retired at or with.
Rahm fucked the retirees good with the medical. He raised the contribution 40% for the last two years and he wants all retirees to go into OBama care just like a shit head. But not his family they will have a different medical plan. Rahms got money for Rahm voters and supporters just like Daley did with contracts
Wise up asshole!
So what does this mean for us? Does it mean back to the drawing board all over again? I have ten more years to go and I do worry about my pension/retirement. Let's hope they figure something out.
Rahm the Commie will have to find some other innocent Middle Class Working people to steal from, in true Democrat style
As it should be 😀 strangely though rahm keeps finding billions for his family and friends projects! What asinine idea was it to close 54 schools then buy closed catholic schools plus build huge new schools? Bam! Billions gone! Let's rock:
Maggie Daley park
Expanding river walk
DePaul stadium
Bike lanes screwed up traffic everywhere
Build the "flyover by LSD near navy pier
Cps having huge executive building downtown
Hiring parents who should take kids to school safe passage
Illegals
O hare expansion buying up whole city of bemsenville
Selling tollway
Selling parking meters
Giving Daley vaneko over 60 million of police pension money lost it and they are not indicted
How many billions on lawsuits that are bogus?
How many aldermen? Expense accounts?
How much saved not hiring police
Red line expansion
How many new el cars
How much more we paying in taxes
Where does all the extra cable,phone etc taxes go?
a big win for pensions... but a huge loss for us all. The clock is ticking.. 8 years and about 9 months till the cpd pension system starts bouncing checks and is solvent... so i guess this is "good" but if we dont come up with something or make some type of changes then if you plan on retiring soon or are retired dont expect to collect too many checks.. If your argument is the city should have paid its bills or let them figure it out then you are part of the problem.. Pretty much all you are doing is standing up on a hill shaking your fist at the city who is sinking.. you being mad and glad at the same time that the city keeps taking hits does absolutly nothing. I cant agree with you more that the city is to blame for its problems. the only problem is that the city wants to stop paying us... they want our pensions to dissolve. they want them to go bankrupt. we dont and we are the only ones who care. We are the ones who must figure it out otherwise this once "great job" that we took strictly for the benefits and pension will soon be just another job with a sub par 401k plan that we only get about 26-40 cents for every dollar we put into the pension back to put in that 401k. celebrate all you want, but this is good but very very bad. and the 8 year 9 month mark about our pension going belly up isnt dramatics or made up.. that is a real number and a real time table of when the pension is done.
So Raccoon Eyes now gets to hire connected law firms to fight this losing court battle. The mayor will spend $millions of our tax dollars to enrich these same political donors. A method to the madness.
If these pensions are unsustainable, change them. New people have to work a few more years to get the full pension. Gradually increase minimum retirement age to 60. A newer problem with the pensions is the number of women entering the police field. These women outlive the men by an average of 5 years, the programs were set up to take care of men. This means pension payout is several years more per female. You can't have a pension like ours with people that live forever without some changes.
It would be illegal to make women pay more or get a smaller pension since thy will live to nearly 82 years old. So the changes affect the men more negatively, but that's the world we live in. Any protected group must benefit positively or there can be no change.
I know i sound pessimistic here, but we are living in corrupt times, and let's not forget that mayor got the illinois supreme court to buy his residency argument for his election based on a picture frame and wedding dress left in an attic full of cobwebs. They will simply find a judge that can be bought, with the right amount of $$
What are you guys gonna do when they throw their hands up one day and say " sorry , out of money ... go waste ur time and file a worthless lawsuit " .
Seriously . I feel for you guys .
- no cop here
Poor Rahm. F.U. lol
Just out of curiosity, I retired last year and will be receiving the 1.5 percent cola when I turn 60. Does this affect our pensions in any way?
We win game over !
7/24/2015 03:12:00 PM
---------------------------------------------------------------
I would NOT be celebrating yet. All the comments here claim a "win".
It ain't over.
First of all, this "win" did not alleviate the big underfunding of the pension. THAT is still a REAL problem. No magic wand is going to be waved and all of a sudden a BIG pot of gold is going to make the pension fund solvent.
Two, there is the appeal to the Supreme Court (nothing is a 100% "Lock" there)
Three, legislation will be passing so that municipalities/agencies can declare Bankruptcy. IF that happens, who's to say they don't declare bankruptcy and then say, "Oops, now we have to go back to the table and deal with the money that we have left." That will be 10 cents on the dollar - if that.
No. The game isn't over.
Fuck-it raise the property tax and let all these asshole's that kept voting in jagoff Daley and now fucknutz rahm pay dearly in property tax.
It's funny how many people comment, not understanding that the city has money. If this was your household and you had a mortgage payment you couldn't afford, you could hold off on buying that new TV or iPhone 6. The city has areas it can cut to meet its financial obligations.
Let's look into his TIF Pot of Gold.
Is anyone else here sick of hearing about gp from R and D? This poster should drop a knee in front of his clout and thank God he/she is not working the streets.
Rahm has got to go. The only thing he wants is to get him and his friends richer and destroy our pension fund so that our families can live like the low class that we served during our careers
Daley still gets his three pensions and ghost payroll job for handing the mystery firm the parking meters.
I think the Denmocrates got a good one with this dope Zak Farting for a U.S. attorney Northern District of Illinois. The locals told Bama to put in a Rube so they can get a breather. He complied and not we got a guy that is asleep at the switch.
I believe that in 2016 The ASSHOLES in Springfield can OPEN UP the Illinois Constitution (every 10 years ) and will REMOVE the "cannot diminish clause " from the Constitution ,Then they can do it AND THE COURTS WILL BACK THEM UP AFTER THAT......
I know that this is a stupid idea that probably won't work but it's about time that we let our aldermen know that the city can't get away with fucking us over without a fight. Vent all your outrage on them! Make them miserable and wish they never licked rahm's butthole! It's about time they were made to stand up, strap on a set of balls and do the right thing! You think that can happen? We have to try something because it's just US against everyone else!!!
Anonymous Anonymous said...
Bankruptcy is on the way. The City of Chicago is playing a Monopoly game and the FOP's master plan is to stay in jail. One more FOP election before the pension poop hits the fan. Which retiree will be in charge?
7/24/2015 07:48:00 PM
No it isn't. To file for bankruptcy you actually have to be broke believe it or not. This city isn't broke by a long shot. They cry broke so they can attack and attempt steal your pensions but they actually have plenty of money and can raise plenty more in tax revenue. If the city was truly broke, checks would be bouncing and they'd have already declared bankruptcy. Quit being so naive and believing the bullshit of these lying politicians.
Rahm is pissing in the wind on this and he knows damn well he's going to lose.
He always portrays himself as someone who's looking out for the taxpayers yet he's going to waste even more taxpayers dollars taking his losing case to a court who's already shot down a nearly identical case.
I guarantee you if it was Rahm's own money at stake he wouldn't be pissing it away like this.
Rahm you're an arrogant, slimy bastard.....Now find our pensions!!
11:30pm....really???? Yes it's women's fault the pension system is messed up. GTFOH!!!
The city is the absolute guaranteer, of the pension funds. If the city allows the funds to go broke, it will have to write the checks from the general fund. The city cannot just walk away from its pension obligations. Besides, the city is not broke. Rahm is spending money like a drunken sailor. Read the decision by Judge Novak. It's all spelled out. The city can and must,fund the pensions.
Anonymous said...
Bankruptcy is on the way. The City of Chicago is playing a Monopoly game and the FOP's master plan is to stay in jail. One more FOP election before the pension poop hits the fan. Which retiree will be in charge?
7/24/2015 07:48:00 PM
++++++
Is that you John? or is this Brock?
Markey took care of himself, no problem
Thank you to the retirees who funded, supported and made the noise. I'm almost there. And to goof that says woman should pay more, really, what year is it. Trust in this pal, I earned it. No fluf here. Amazingly stupid statement.
Rahman will spend every penny of the taxpayers money to get what he wants.
He got his and fuck everyone else.
There's a solution to this mess:
1) No more pensions for any new hires.
2) 401(K) plans for everyone. The employee can put their own money in it. No matching.
3) Fire all the existing employees to relieve ourselves of our on-going pension liabilities. This means that we don't put any more money into the plans with each paycheck, everyone gets out what they were promised - to this point. Fund the plans to make them "whole", and move on.
The pensions were a nice idea back when Public-sector employees made LESS than employees in the Private-sector. It was a way to thank the employee for years of civic service, and for the loss of income they incurred.
But now? Lots of these public-sector employees make as much (if not more) than the private sector, have gold-plated benefit plans, and more. It costs too much, they don't deserve it, and we can't afford it any longer.
Don't like this? There's only one solution: Amend the State Constitution so the benefits can be diminished or impaired, and take a haircut to save your job, otherwise things are gonna get real ugly in the tax department pretty quick.
Thanks for nothing Dumbocrats...
7:29p and 10:05p have good points. Rahm lost but did we win? They don't care if the fund bellies up. At some point we are going to have to make concessions.
Is that good? No
Is that fair? No
But, standing here saying we won is short sighted. Won what? There is still not adequate funding to make up for the city's past sins.
In order for this to survive and for us to shore up our pensions to a decent level changes need to happen and fast. WE HAVE TO MAKE THIS HAPPEN. Nobody else gives a rat's ass. Your neighbors rent you already & will threaten to vote out aldermen who raise taxes to fund us.
The casino? A drop in the bucket.
Current employees need to up the 9% to 11% and we have to bite the bullet on COLA, especially those who retire prior to 63. Maybe the answer is no COLA until 65. We better do something because hen the funds deplete he city is going to shrug its shoulders.
We are in trouble and need a real leader to bring us back.
Exactly how many pensions will the 9 1/2 fingered prick collect when he retires? Fed,State,and City ??? but fuck everyone else...also the Unions in Chicago are and always were a joke..as a union city employee I was NEVER allowed to vote on any issue with regard to my pension,these were all backroom deals with no input from members. Just ask yourself..why did 27 of 31 Unions go along with the latest scheme, did any of you retirees get a vote?? any active members get a vote?? I didn't.
Thanks, Not the Police
I worked until 63. Just because I worked patrol to 63 doesn't mean you can, too. You will fall apart like a cheap cardboard suitcase in the Louisiana rain.
Why would workers want to give up their Constitutionally guaranteed Pension Rights?
All of this is very complicated. I've been retired for more then ten years and during my time on the job old man Daily was taking pension money's for whatever project(s) he deemed necessary. Also, in 1968-70 old man Daily told everyone getting on the police and fire department they would get free medical for life and pension benefits. I look at the new Officers and hope they can get the same benefits as we did, but remember all of these were negotiated over many years up to the present. I do not believe any of the politicians and their promises and no one else should. If I was presently on the job with less than ten years, I would be looking to get a fed job. Municipalities in this country do not have a very good future when it comes to pension security.
Why do y'all think the US military is holding 'exercises' here?
You train where you will be deployed some will say.
It's not just pension thefts. Social Security is unsustainable, Disability is going bust in 2016. Medicare and Obamacare are driving costs out of this world and that's unsustainable.
Meanwhile, jobs are outsourced and what can't be off-shored illegal immigrants will be brought in to do.
WRT Illinois. They speak of job growth but the fact of the matter is that the size of Illinois labor force is lower than it was way back in 1999 SIXTEEN YEARS AGO. WHERE ARE THE NEW ENTRANTS TO THE LABOR FORCE. Job growth my ass.
If you're not expanding the tax base via a larger labor force you're not sharing the tax burden. More borrow and spending to keep the clouted six-figure new hires in power == massive tax increases.
Heh, and some of us wonder why there's violence in the hood. Why people don't want to be a part of a society that isn't working for them. Wake up suckers.
Promises, promises. It doesn't even matter if they are in writing or not. Trust is fading fast in this corrupt system and once that is gone good luck to all.
Tell me who can you trust? Anyone? I think not.
Lol yeah make people work until they drop dead. LMFAO.
Let me ask y'll.
What happened to all the productivity and technology gains over the last two generations?
Mid 20th century it was written that with all the automation by the 21st century we would be saying good-bye to the 40 hour work week!!
Our standard of living was supposed to he so great that no-one would need to work 40 hours a week.
So who benefited and was rewarded for all this hard work over the last 100 years?
Certainly not the middle class and below.
Political parasites and wall street do nothings are the ones being rewarded and bailed out.
Yeah, as far as the 40 hour work week. Well that is gone. Yeah, It's 50 or sixty hours a week or more now.
People are afraid to take their earned time off, their vacation time for fear of being replaced when they return.
Off work people are constantly checking their work e-mail working late at night, early in the morning or all weekend
Isn't technology grand. The smart phone keeps you connected to your job 24/7 and at the bosses beckon call.
So pull out the tired "you got work hard to earn you way and stop looking for handouts" bullshit. It's sounds so worthy, altruistic.
Did the bankers work and earn their billion dollar bailouts? How much working and earning is mayor Ali Baba and his 50 thieves doing? The working and earning bullshit doesn't apply to the political parasite class now does it?
How much working and earning are the exec. wall street investors doing as the Fed. bails their ass out keeping the wall street casino scam going with near zero interest rates. The very same zero interest rates that is hurting our pensions.
So don't be needy. You must work until you're 80 so you can say you earned it. Maybe next week the goal post will be moved to 90..or 100. Hey...we're trying to save something here, no-no we're not trying to steal your earnings hahahaha.
There's no character left anymore. People just buy into any bullshit the authorities sell them
Rahm's extremely pissed so now he's going to let those pensions slip into insolvency in a dozen years or so.
He should, and certainly could, do the right thing and right the ship but he won't.... he's got high priorities like Maggie Daley park, DePaul Arena, hundreds of miles of unused and unwanted bike lanes etc. to squander our tax dollars on.
He's a true, major league asshole who's sitting on his gratuitous $14 Million nest egg for him and his families retirement so he couldn't care less about the peon public servants.
One of Rahm's passions since running for mayor has always been to fuck us out of our well deserved pensions. By hook or by crook he's hell bent on doing it. If the courts sided with him our pensions would be diminished. If the courts side with the Illinois Constitution and the workers then Rahm will do everything he can to let those pension funds slip into insolvency.
Fuck you Rahm. Fund our pensions.
What happens when the money isn't there?
You can tax people all you want, but when the taxpayers leave, there will be no one to pay the taxes to fund your pensions.
Just ask Detroit, Stockton and Birmingham
Don't fool yourself. The money most certainly is, and has been, there. Rahm and his ilk have always chosen to use that money for other things totally unrelated to pensions.
I'd love to see Rahm and Shortshanks sued for intentional breach of fiduciary duty.
Our gp from R&D went out of town for a little vacation Thirsday and Friday
Not at work but the A&A's show she's here
WTH
Ok enough with this shit. I get it.... that's ourageously egregious. You don't name her and the majority of people reading this have no idea of who you speak. If she's truly pulling all the stuff you're accusing her of then please let IAD, Inspector General etc know of all your findings.
You're incessant posts with gripes obviously haven't changed a thing so maybe it's time to change tactics and ramp it up.
7:29PM...
What CPD retiree gets a 3% compounded interest COLA? None. Retirees born before 01 Jan 55 get a 3% simple interest COLA.
Who are you? You're not one of us.
You have to realize that the unions are selling the current pensioners out to benefit the future pensioners
According to the latest court decision, every pensioner can sue to maintain their benefits under the Constitution
To think that you are going to get $60,000 per year with an annual 3% increase that compounds is living in a fantasy land. We rank #50 in pension funding. The time to speak up and make noise was thirty years ago. Now it's too late. See reality for what it is and not for what it should be.
Reality is that the increases are not compounded and never have been
Riase taxes do whatever you have to do rahm, but you owe you pay! You obviously have the money your spending like a drunken sailor! Are you doing another event to celebrate the great Chicago fire which destroyed property and how many died and were injured? whats the cost? 606 trail expansion, maggie daley park huge cost overruns, divvy bs subsidizing this pathetic company, riverwalk expansion, bike lanes waste of space and causing traffic nightmares, how much more waste?
How many link cards use fraudulently? What going to finally happen when the Republicans order "sanctuary cities" that house millions of illegals have federal funds withdrawn? Come on rahm get on the bus, look at how Donald trump has the message to "make America great again" why not "make Chicago great again?" What is going to happen mr. mayor when Trump is elected to Chicago?
Maybe they can find some fools to buy tax-free municipal JUNK bonds?
At the current rates (5%+) fed tax free, they might
As a group, police officer's have a shorter lifespan than people in other professions. The studies refer to our group as a whole, not based upon gender.
"Dr. John Violanti maintains that an average life span for police officers is 66 years, or 10.6 years after retirement, adjusted for age and gender. This is lower than the average for males in the United States (76 years of age)."
Depressing, but I'm at an age where I am now more aware of this. Two former partners of mine who were right around that 65-66 yo age passed away. They barely had a chance to enjoy retirement.
I feel badly for the folks who need to work VRI or substantial overtime to pay the bills. Life is passing you buy. Your kids miss you. You are jeopardizing your health, which all the money in the world can't buy.
Our gp from R&D went out of town for a little vacation Thirsday and Friday
Not at work but the A&A's show she's here
WTH
7/24/2015 08:39:00 PM
Well if you got copies of their A&A's, and can prove they were not at the shop, complain to the IG abou theft of payroll or ghosting payroll.
The Ballerina is Dancing in ANGER , You know them cuts are coming so Why doesn't he start by getting rid of them Traffic Aides , making $19 an hour , do you believe it $19 a hour ,for doing absolutely nothing . Complaints are souring about them recently , None found working , or all the time on the phone , or they are not on there intersection and cant be found ,or there found in the stores shopping when they should be at there intersection , the list goes on and on . And to top it off we found out they have 4 Superintendents in there one Traffic Ops City Dept ,The Police Dept only has ONE Supt., They have a unbelievable 4 Supt's , Talk about Pay to Play , This could save a lot of Money Towards Pensions for a start.
Our gp from R&D went out of town for a little vacation Thirsday and Friday
Not at work but the A&A's show she's here
WTH
Ok enough with this shit. I get it.... that's ourageously egregious. You don't name her and the majority of people reading this have no idea of who you speak. If she's truly pulling all the stuff you're accusing her of then please let IAD, Inspector General etc know of all your findings.
You're incessant posts with gripes obviously haven't changed a thing so maybe it's time to change tactics and ramp it up.
7/25/2015 11:33:00 AM
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Can't post the name. She is a civilian Admin Mgr in R&D. She is the team leader for the Calea accreditation.
She has been doing this for a long time.
Did it when she worked at Academy too.
Who marks someone present for duty on the A&A.s when they clearly are not at work for days on end?
It.s not like she.s taking medical time or has a very ill family member = she does not!
IAD has turned a blind eye.
Hopefully the inspector general, bga, or some media outlet steps up and exposes this hack thief.
Until then, get used to seeing this everyday she is not at work!
Anonymous Anonymous said...
What happens when the money isn't there?
You can tax people all you want, but when the taxpayers leave, there will be no one to pay the taxes to fund your pensions.
Just ask Detroit, Stockton and Birmingham
--------------
Don't fool yourself. The money most certainly is, and has been, there. Rahm and his ilk have always chosen to use that money for other things totally unrelated to pensions.
I'd love to see Rahm and Shortshanks sued for intentional breach of fiduciary duty.
7/25/2015 11:24:00 AM
----------------
As chief budget officer in my home, I sort the expenses into categories like 'necessities', 'wants' and 'if we win the lottery'. In my house, you don't but a set of sterling silver if you haven't paid the water bill.
The City of Chicago shouldn't be spending on ANYTHING except absolute necessities until all obligations are met. Only then do you get to build flower pots and waive corporate tax bills and have stupid festivals and celebrations.
Right now, it's tighten the belt time, re-use and reduce time. To do anything else is CRIMINAL NEGLIGENCE.
why not do the right thing, and fund the pensions?.......and, by the way, you only have one life to live, how do you want to live it?.....
I feel badly for the folks who need to work VRI or substantial overtime to pay the bills. Life is passing you buy. Your kids miss you. You are jeopardizing your health, which all the money in the world can't buy.
7/25/2015 01:19:00 PM
Exactly. Send those kids to Kennedy or Bogan.
Anonymous said...
The city is the absolute guaranteer, of the pension funds. If the city allows the funds to go broke, it will have to write the checks from the general fund. The city cannot just walk away from its pension obligations. Besides, the city is not broke. Rahm is spending money like a drunken sailor. Read the decision by Judge Novak. It's all spelled out. The city can and must,fund the pensions.
7/25/2015 08:31:00 AM
I would like to read the judge's decision . I hope you are correct that the city must fully pay out pension funds and guarantee full payment. But, I am skeptical as Patton stated that the city will not do this.
This is all a show so the politicians can say they tried to improve the financial situation of the state for both taxpayers and workers. The ultimate goal is Federal bankruptcy court where the Illinois constitution means jack squat. Pensions will be lumped in with other liabilities when it comes to determining how many cents on the dollar get paid out. The bond holders will get a few cents on the dollar, if anything, and the pensions will get about 50 cents on the dollar. But hey, the politicians tried but the state courts put up roadblocks.
Some thoughts on this decision:
1. If you haven't read it, get a copy and read it. It might be a little thick in parts, but it is a very well written and well reasoned decision.
2. Judge Novak did the right thing: apply the law to the facts, and call balls and strikes. The recent IL SUP Ct decision made that part easy. Resisting what had to be enormous political pressure from Rahmulus the 1st was difficult, I am sure. She is to be commended for this. After all, how many times have we seen Cook County judges take the position that all cops are guilty, and all criminals only deserve a slap on the wrist? What a refreshing change.
3. Rahm's "net benefit" argument, while creative, got squished like a pancake.
4. Rahm's "bargained-for-exchange" argument, much touted in the media, got flushed like the turd it was when put under the bright lights of judicial review.
Sorry Rahm, but here's a little free legal advice: your chance of winning this on appeal can be summed up in one word: Z-E-R-O.
Any attempt to take this case up on appeal should be exposed for what it is: a cheap attempt to cause unnecessary delay, while making sure you line the pockets of politically connected lawyers.
Stop being a whiney little brat, and take your beating like a man.
Call the next case. Not a cop.
Now is the time to look into how much the pension board has been paying their attorney David Kugeler for a gazillion years, under the FOIA. Sun Times reporter Frank Main get on this and how much better the board's medical benefits and salaries are. Our pension money pissed away on trash
4 1/2 years to go boys and im just crawling to the finish (retirement) line! Wish me luck!
Patton, has never been right about anything, regarding pensions.
This is whats gonna happen...daley and those who hold or have a pension from a political office will be fine,the little guys will be screwed once the politicians amend the state constitution.
Anonymous said...
Patton, has never been right about anything, regarding pensions.
7/26/2015 06:55:00 PM
Neither has Hauser but he keeps getting elected in spite of being clueless.
But ask him about China! For a while he was at a loss as to what to write in the pension newsletter so he copied travel stories about China and stuck them in the Pension rag issue after issue. Completely irrelevant and that is the extend of his knowledge about finance and pensions. Remember, Hauser voted FOR giving Davis and Vanecko millions out of our pension fund.
And don't dare get between him and a pizza!
Anonymous said...
Maybe they can find some fools to buy tax-free municipal JUNK bonds?
At the current rates (5%+) fed tax free, they might
7/25/2015 12:10:00 PM
If nothing else, Rahm can sell them to our pension funds.
Anonymous Anonymous said...
Our gp from R&D went out of town for a little vacation Thirsday and Friday
Not at work but the A&A's show she's here
WTH
7/24/2015 08:39:00 PM
Well if you got copies of their A&A's, and can prove they were not at the shop, complain to the IG abou theft of payroll or ghosting payroll.
7/25/2015 03:32:00 PM
That would mean that the complainer would have to stand up and make the complaint and provide his/her name etc. And also testify in court or at least give a deposition. What proof does the person have? Other than just saying so and so wasn't here. Pictures? Fellow co-workers willing to stand up and be counted? Video? Gas station receipts? Would they be willing to put their treasured inside job at HQ on the line to stop corruption of one person taking two days off?
I thought so.
Anonymous Anonymous said...
Rahm's extremely pissed so now he's going to let those pensions slip into insolvency in a dozen years or so.
He should, and certainly could, do the right thing and right the ship but he won't.... he's got high priorities like Maggie Daley park, DePaul Arena, hundreds of miles of unused and unwanted bike lanes etc. to squander our tax dollars on.
He's a true, major league asshole who's sitting on his gratuitous $14 Million nest egg for him and his families retirement so he couldn't care less about the peon public servants.
7/25/2015 11:17:00 AM
It really out to be significantly more than $14 million by now!
If it just kept pace with the S&P 500 since Rahm was elected it should be at least the following:
2011 +2.00% $295,400 --> $14,295,000
2012 +16% $ 2,287,264 --> $16,582,264
2013 +32.39% $ 5,370,995.31 --> $21,953,259.31
2014 +13.69% $ 2,987,839.91 --> $24,941,098.91
So, unless Rahm had his money in some real crap investments, like our pension funds are in, and merely kept pace with the S&P 500 his $14,000,000 in 2011 would be $24,941,098.91 on Jan 1, 2015.
But really, if all he could do was stay even with the S&P he ought to fire his money manager.
Anonymous Anonymous said...
Our gp from R&D went out of town for a little vacation Thirsday and Friday
Not at work but the A&A's show she's here
WTH
Ok enough with this shit. I get it.... that's ourageously egregious. You don't name her and the majority of people reading this have no idea of who you speak. If she's truly pulling all the stuff you're accusing her of then please let IAD, Inspector General etc know of all your findings.
You're incessant posts with gripes obviously haven't changed a thing so maybe it's time to change tactics and ramp it up.
7/25/2015 11:33:00 AM
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Can't post the name. She is a civilian Admin Mgr in R&D. She is the team leader for the Calea accreditation.
She has been doing this for a long time.
Did it when she worked at Academy too.
Who marks someone present for duty on the A&A.s when they clearly are not at work for days on end?
It.s not like she.s taking medical time or has a very ill family member = she does not!
IAD has turned a blind eye.
Hopefully the inspector general, bga, or some media outlet steps up and exposes this hack thief.
Until then, get used to seeing this everyday she is not at work!
7/25/2015 05:09:00 PM
Any exempt only has to say that she was excused per their orders and poof, your complaint gets you a seat in a squad car. This is how it always was and will be. Go to the FBI and see if they give a fuck. That would be the same FBI that had Daley cold for lying to the FBI and chose not to indict. Do you think anyone would care if one person extended a weekend? Especially after an exempt states he or she excused the person? Because I promise you that would happen. They are not going to look bad, they will make you look bad. Give it up. Find another job. Apply to work in IAD and see what that is like. Same shit, "What you got kid?" "You got nuthin!"
Anonymous said...
why not do the right thing, and fund the pensions?.......and, by the way, you only have one life to live, how do you want to live it?.....
7/25/2015 05:50:00 PM
"One Life to Live"
An American soap opera broadcast on the ABC television network for more than 43 years, from July 15, 1968, to January 13, 2012, and then on the internet as a web series on Hulu and iTunes via The Online Network from April 29, 2013 to August 19, 2013.
The City better start funding research at UC and IIT on how to squeeze blood out of a stone.
Because thats the only way they are going to be able to find the money to pay the impossible promises that were made.
That would mean that the complainer would have to stand up and make the complaint and provide his/her name etc. And also testify in court or at least give a deposition. What proof does the person have? Other than just saying so and so wasn't here. Pictures? Fellow co-workers willing to stand up and be counted? Video? Gas station receipts? Would they be willing to put their treasured inside job at HQ on the line to stop corruption of one person taking two days off?
I thought so.
7/27/2015 10:29:00 AM
I hear you. This is so true and it is a sad state of affairs for your department.
But as I recall....complaints to the IG about non-sworn/non-elected City Employees can be anonymous.
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