Hey FOP
- The $2.1 billion Dallas Police and Fire Pension System is suing its former actuary and advisor Buck Consultants for allegedly failing to “provide adequate warning or proper counsel” that the fund says could have prevented the system’s impending fiscal crisis.
According to The Dallas Morning News, the pension fund alleges in the lawsuit that Buck Consultants, which had advised the pension’s board of directors for more than 25 years, and three of its employees “failed to communicate important risk information.”
Face it, something is going have to be done, especially in light of the burgeoning pension crisis, the constant mismanagement by the City, the failure to adjust the actuarial contributions and the incoming administration that, for all the noise about supporting workers, is going to attempt to re-open the Constitutional Convention and gut the pension law.
Labels: out-of-state, pension
posted by SCC at 12:01 AM
35 Comments:
Why does FOP have to spend dues money to sue? Why doesn’t the pension board sue and use the City’s contributions to fund the lawsuit?
Kevin graham is busy snorting slices of deep dish pizza off eddie johnsons hairy ass. Leave him a message he'll get back to you.
what will Lappe and hauser do for free dinners and trips if they sue?
Democratic aldermen, mayor, county, house , senate , attorney general, IL Supreme Court and governor . They will do whatever they want. No checks or balance.
You can take that Constitutional change to the bank. Proud Union Home people.....if you are in a public union. May as well pull your drawes down and lube up now.
Rest assured, your getting hit one way or another. If not your pension, then your taxes.
Yeah, and they will get Herbert to handle the case.
The next constitutional convention isn't until 2028.
Pat Quinn tried to get a ConCon but failed.
It is a disaster regardless of just the pension issue, especially when dems are in power..
All those scumbags that dipped into & borrowed our money should be held accountable ~ including the idiots at FOP!
If that happens than all the stage 4 retirees will have a meeting to decide whos at fault for these crimes and what to do about these politicians who caused this !
Please Pension Board and FOP. Don’t tell us there is nothing you can do. That is precisely why our fund is in such dire straits. Bold and imaginative steps are needed now. Consider these tactics, especially if legal precedent exists.
It won't happen here. The corruption is too embedded into the system.
There is nobody in the office at FOP. The squire of Lincolnshire has taken his band of merry men to Las Vegas for the second time this year. They don’t have time for us. Viva Las Vegas the price is right.
Is there any way we can decertify our useless union and join the teamsters?
I've been saying it for years. The mismanagement is horrifying, but the taxpayers have already paid twice to fund the pensions through the double-dipping city and state. There is no way they're going to be on the hook a third time for this, and if the city and state try, the exodus is going to turn biblical. Then the only people left in the state will be those with "pensions" and those without enough money to rent a U-haul. Start saving money for your own future now.
The big question is who will pay annuitants if the pension fund busts. City broke and state broke. Federal government has already said not their problem. The entitlements for all the loafers are always paid and will never go bust. Working people, sorry, maybe you can continue to work until you drop dead to support all the freebies for all the shitheads.
How is Lapps a Trustee again?? Did they create a new position? Doesn’t that throw off the balance of power for mayoral appointees?? Can someone speak to this? I’m on disability and have a severe neck condition thanks to a vehicle crash some years ago. I can barely take a breath without wincing and am hooked on my Vicodin just to try and maintain a somewhat normal life. (The weed can’t come soon enough...can’t wait and don’t are whatbthe city thinks) All Lappe does is try to find a way to push me back. Fuck you Mike! My life was ruined thanks to this job...I can’t pick up my grand kids or even a gallon of milk and you think I’m faking it? Leave the legit disability people alone. I have three doctors and three surgeries to prove I’m disabled and you STILL have Oreos question me once a year like I’m done scum bag. STOP!! I thought this shot was done when he was retired and now he’s fucking back. Amazing
Why does FOP have to spend dues money to sue? Why doesn’t the pension board sue and use the City’s contributions to fund the lawsuit?
There is no doubt in my mind that you just voted for the political party that is responsible for this mess.
Why are all the “Pension conferences” in places like Hawaii, Vegas, Miami, etc at fancy resorts
How much of OUR MONEY gets spent on that shit?
the gold plated pension plans of public employees in this country are going to have to be dealt with in some way as there just is not enough revenue to pay for them, and raising taxes enough to pay for them would make the situation worse.
The FOP should start by keeping Donahue away from his cronies in Springfield who always are looking at ways to squeeze more money from the pension fund.
Here is a great fix. Stop voting for these domocratic scum fucks. And for fucks sake stick together.
It’s not only the police and fire pensions. It’s the state, county, teachers pensions that are all in the same shape
We should just hire the same accountants, actuaries and financial advisors the judges , alderman, water reclamation district, etc hires. Their pension plans seem to be properly funded
Anonymous Anonymous said...
You can take that Constitutional change to the bank. Proud Union Home people.....if you are in a public union. May as well pull your drawes down and lube up now.
You are right about that. Hopefully with a constitutional change you will be affecting all the public pensions and that would affect a lot of politicians pensions so they might not be willing to vote in favor of it. Can’t see state senators or representatives voting for it if it affects their pensions
The to file a lawsuit stand up and be a man !
Hauser retired....
Changing the Constitution to eliminate the pension obligations is already in the works.
Did the city make the required contributions last January and the required comping up this January? crickets::
"The next constitutional convention isn't until 2028."
NOT TRUE.
In 2028 a Con Con referendum is required to be on the ballot.
(In 2008 the referendum was defeated.)
However:
Constitution of the State of Illinois,
ARTICLE XIV CONSTITUTIONAL REVISION
SECTION 1. CONSTITUTIONAL CONVENTION
(a) Whenever three-fifths of the members elected to each
house of the General Assembly so direct, the question of
whether a Constitutional Convention should be called shall be
submitted to the electors at the general election next
occurring at least six months after such legislative
direction.
(b) If the question of whether a Convention should be
called is not submitted during any twenty-year period, the
Secretary of State shall submit such question at the general
election in the twentieth year following the last submission.
(c) The vote on whether to call a Convention shall be on
a separate ballot. A Convention shall be called if approved
by three-fifths of those voting on the question or a majority
of those voting in the election.
http://ilga.gov/commission/lrb/con14.htm
Actually, in June 2017, State Representative Tim Butler (R-Springfield) introduced House Joint Resolution 68 which would allow the question of calling a state Constitutional Convention to be on the 2018 Illinois General Election ballot.
http://www.reptimbutler.org/2017/06/butler-introduces-resolution-calling.html
He didn't have three-fifths of the members elected to each house of the General Assembly, so Con Con was not on the Nov 2018 ballot. If Mad-again wants it, he probably has the votes to put Con Con on the 2020 ballot.
First thing to do is sue Robert Vanecko, Richie Daley and his son. Stole millions from our pension.
ive said this for years and even after all the fucking weve gotten from from the dems with the loss of our healthcare, obamacare jammed down our throats and the wholesale raising of taxes and fees with nothing to show for it except more illegals they ARE going to end our pensions.. municipal is funded at 18% but was 97% just 20 years ago. daley stole the money to buy votes. was just at a union meeting recently where leaders were overjoyed at the election results, talking about how the dems were going to lead us to solvency. like people in 2007 wouldnt believe THEIR house could lose value, these fellow travellers all believe the election rehtoric. when it comes to us againts everyone else in this state we are going to lose. save your money kids, they are going to hang us out to dry. and after a lifetime of democrats running this shithole who they gonna blame? well trump and rauner of course. and these sheep will believe them. save every dime you can, lean times ahead for people who cant make it working, whatcha going to do when your 60 and have no income?
Anonymous Anonymous said...
How is Lapps a Trustee again?? Did they create a new position? Doesn’t that throw off the balance of power for mayoral appointees?? Can someone speak to this? I’m on disability and have a severe neck condition thanks to a vehicle crash some years ago. I can barely take a breath without wincing and am hooked on my Vicodin just to try and maintain a somewhat normal life. (The weed can’t come soon enough...can’t wait and don’t are whatbthe city thinks) All Lappe does is try to find a way to push me back. Fuck you Mike! My life was ruined thanks to this job...I can’t pick up my grand kids or even a gallon of milk and you think I’m faking it? Leave the legit disability people alone. I have three doctors and three surgeries to prove I’m disabled and you STILL have Oreos question me once a year like I’m done scum bag. STOP!! I thought this shot was done when he was retired and now he’s fucking back. Amazing
There wasn’t a new position created. Hauser didn’t run for the retirees trustee position, Lappe did and won convincingly and is now in that position because the election was after he retired. I would hope Lappe in all is effort to get officers on disability back still realizes not everyone is pulling a scam and that there are officers on duty disability that are genuinely injured and have had their lives ruined because of this job and deserve to be on disabilty
As far as the yearly status exam, pension law dictates the pension fund has each officer re evaluated every year by Dr Orris, the boards physician. It’s a pain I’m sure
Anonymous Anonymous said...
Is there any way we can decertify our useless union and join the teamsters?
11/16/2018 07:26:00 AM
Yeah,the Teamsters. The ones that sold out the labor unions to Daley?
You're a goof.
Anonymous Anonymous said...
Is there any way we can decertify our useless union and join the teamsters?
11/16/2018 07:26:00 AM
Yeah,the Teamsters. The ones that sold out the labor unions to Daley?
Anonymous Anonymous said...
Is there any way we can decertify our useless union and join the teamsters?
11/16/2018 07:26:00 AM
Yeah,the Teamsters. The ones that sold out the labor unions to Daley?
Years ago the Teamsters tried to become the union for the CPD. Spent a lot of time and money but the rank and file didn’t vote for them. They won’t be doing that again
Changing the Illinois Constitution to allow lowering benefits might be difficult in the face all the states municipal employee unions extreme displeasure perhaps more difficult with the new governor, letting cities declare bankruptcy would be easier politically, maybe thats why Rahm left, leaving the next mayor holding the bag. At one point there was a petition on the White House web site to change Chapter 9 (municipal bankruptcy law ) the change would give the same protection in bankruptcy as the state law does.
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