Kicking the Can....to Springfield
Someone want to explain this to us? It seems like a bad fantasy:
- The outlines of how Mayor Lori Lightfoot would like Springfield to help her balance her new city budget are coming into focus, and it looks like she'll be making a big, big ask.
According to knowledgeable sources in Chicago and Springfield, after weeks of preliminary maneuvering the mayor is pitching nothing less than a state takeover of the city's cash-short pension funds, which under current law will require upward of $1 billion in new city tax hikes over the next three years to reach a path to full actuarial funding. Her proposal would consolidate city pension money with smaller downstate and suburban pension funds in a new statewide system. In some cases, those non-Chicago funds are even worse off than the city's.
Insiders say Chicago might be willing to forgo some revenue it now gets from the state in exchange for relinquishing responsibility for the funds, which now are about $28 billion short of the assets they'll eventually need to pay promised benefits. To pay the cost, Lightfoot reportedly supports state legislation to tax retirement income of better-off seniors—taxing income above $100,000 a year would net roughly $1 billion annually, according to the Civic Federation—or extending the sales tax to cover high-end services such as accounting and legal advice.
So by spreading out the hit across the state, Lightgroot hopes to stave off the all-but-certain exodus of taxpayers fro Chicago to other tax friendly climates? We are told that there is no provision in Federal Law for states to declare bankruptcy - cities can, and have - but not states.
But we have a hard time seeing downstaters agreeing to this. They already view Chicago and Cook County as leeches driving the state into ruin.
But we have a hard time seeing downstaters agreeing to this. They already view Chicago and Cook County as leeches driving the state into ruin.
Labels: money questions
posted by SCC at 12:03 AM
145 Comments:
"But we have a hard time seeing downstaters agreeing to this. They already view Chicago and Cook County [politicians] as leeches driving the state into ruin."
posted by SCC at 0003 Hours on 29 June 2019.
And, they are right!
She can't do this alone, without Federal oversight or approval.
It's designed to prevent Bernie Madoff clones. So do some
research and find out the Federal Agency that steps into to
make these plans whole if and when they go bankrupt.
Contact them and explain we have a financial incompetent
at the helm. She has NO fucking financial background, nor
the authority to mess with the asset mix.
This woman is just an ignorant criminal. She can't possibly
make decisions today that will be viable 30 years from now.
Was directly involved in the Kamel Harris charging (the guy who killed a two-year old, dismembered his body and dumped the body parts into Garfield Park Lagoon). Although CPD solved the case, we knew that the actual murder occurred in Rockford, Illinois (Winnebago County) I believe. Once we arrested him, the CCSAO said that they would prosecute the case. Biggest regret of my career, I should have argued to let Winnebago County State's Attorney to prosecute the case, because the ASA's who handled it here dropped the ball and the jag-off walked free after a jury trial. In Winnebago county, they probably would have given him life without parole! No jury in Winnebago county would have fallen for his complete bullshit story, but in Cook County..... the police are always wrong!
If you are going to tax retirees that make more than $100,000 annually you will force a mass exodus to warmer states such as Texas or Florida that have no income tax. I retired on a public safety retirement and moved out of state the next day to a state that has an income tax rate almost 1/3 of the state that I worked in for just short of three decades. That move saves me more than $9,000 annually and that is big money when you are living on a pension.
Mayor Lightbrain just has no clue...none whatsoever...states broke and she wants more money from everyone in the state to pay for the SHITHOLE Shitcago because it is broke...Yet there is a Governor in Jail for talking shit and never made a penny and there's a mayor that sold the skyway and the parking meters and both deals have profited and sold for more than the original investment with years and years and years left to go...And no one goes to jail!
Lift the residency rule if you expect tax payers statewide to foot the pension debt.
I wish the Feds would do an investigation into anything pension related and find out if any shadyness was involved in the fund. The fund is ripe for corruption and we know Chicago politicians can’t help themselves.
I thought the Chicago casino was going to fix everything?
"But we have a hard time seeing downstaters agreeing to this."
Downstaters have no say anymore. Why do you think Illinois is the "Isle of Ignorance," surrounded by red states?
The Republican party has written off Chicago, and I expect Illinois is not far behind.
rb
I’m drunk right now but have a great idea! Since the city stopped paying other debts like IOD medical bills (which POs have to harass HQ in order to get them paid), stopped paying car wash facilities, etc.; what if the city ignored the parking meter contract? Oh well!! Fuck em!! Seems like a motto the city has with all their budget problems so why not carry it over in this instance?? Hmmm?
Downstaters live under the same crooks that we do up here. Their representatives cant overpower the Madigan Cartel either. Actually makes no sense that the whole state should have to paynfor the thievery in Chicago and vice versa. You can bet if a bunch of downstaters came to lighfoot for money she would show them the door. Fuck you Groot, Madigan and Fat Boy.
Tax any pension benefit that originates in the state of Illinois wether from a company based here or a governmental entity located in Illinois, this way you still get taxed even when you move out of state.
Downstate does not have to agree with it, it will just be shoved down our throat like most other things $hitcingo wants
“So by spreading out the hit across the state, Lightgroot hopes to stave off the all-but-certain exodus of taxpayers fro Chicago to other tax friendly climates?”
By spreading out the hit across the state, Lightgroot hopes to sow enough discontent, disdain and hatred to rile the masses, making them demand their elected officials take action via an amendment to the constitution to slash our defined pension benefits.
Retire and run out of Illinois before they pass the exodus tax where they tax you for leaving this screwed up state.
It's time to cut spending money. Cut some of the pork from the budget. Lay some people off eliminate some waste just might be the place to start saving money.
The can is so big, it is no longer able to be kicked. Governor Madigan and his lackey jellybelly want nothing to do with Chicago's pension problems. They have enough of their own. When the bubble bursts, as it most surely will, there will be a wailing and gnashing of teeth as has never been heard in this city and state. Unfortunately, us retired coppers will not be spared. Enjoy the ride while it lasts.
Detroit
-- San Bernardino, Calif.
-- Mammoth Lakes, Calf. (Dismissed)
-- Stockton, Calif.
-- Jefferson County, Ala.
-- Harrisburg, Pa. (Dismissed)
-- Central Falls, R.I.
-- Boise County, Idaho (Dismissed)
These are all cities that tried to get their states to take on burden of pending bankruptcy!
Most states declined and the cities had to dig out of debt on their own!
And now Lightfoot thinks this same failed math will work with Illinois just because the Governor is your friend?
Look at last Mayor who was drinking buddies with last governor, that did not work either!
Not happening!
The rest of this state hates Chicago and Cook county!
No help from the Red areas of this Crooked state!
Lightgroot is making stunning admissions: Chicago’s pension system is collapsing and the job-killing tax increases required to delay total collapse will turn Chicago into a ghost town. She kicks the can to Springfield and Springfield kicks to Washington
Chicago promised it. Chicago can pay it.
And remember, these cocksuckers all want to give insurance to illegal aliens.
Fuck you Emanuel.
Taxwinkle was exorciated in the comment threads after announcing that she will run again in 2022(or whenever), yet nobody will primary her and folks will rubber stamp the D ballot.
We have the government we deserve.
Downstaters want nothing to do with us. They are smart. We are not.
Now, kees me you fool!!!!
if you live in the so called good wards prepare to pay 50 to 75% more in property taxes!
A Chicago city bankruptcy looks more and more likely, she can blame former administrations and with this the state for not bailing out the city, concerned about people leaving the city? when more and more people are abandoning the state ? . tax "well off retires" and give them more reason to escape to a more tax friendly state this is what passes for political logic, perhaps we can solve our problem by importing more illegal aliens seeing as how they are so good for the economy
I wonder when they will start taxing labor
Downstate communities are losing population at a much greater rate than Chicago. Those downstate cities are dead.
Fact. I’m an LEO in St. Louis, your troubled cousin to the south. About half our guys live in small-town southern Illinois where it’s quiet. You wouldn’t believe how many guys are already looking to move across the river back into Missouri. Gas is already 30 cents higher on the Illinois side and Pritzker is driving everything up! Sorry gang, but if Cook County would secede from Illinois we’d be much better of everywhere else.
Every Illinois politician outside of Cook County should scream bloody murder over this scheme. The City of Big Shoulders is now just the City of Big Booty.
what the post does not state is there is quite a few well funded funds.
chicago park district is one. the other funds are the politicians judges and other government do-gooders they tap from is another.
will fatty fatty 2x4 include this as well?
he learned the rahm fuck you management style real good.
Capital Fax Blogs reports so far Pritzger is saying "meh" to the idea of rescuing Chicago's police and fire pensions funds:
https://capitolfax.com/2019/06/28/pritzker-not-receptive-to-lightfoots-huge-state-bailout-proposal/
LightBrite has guts for proposing such a lopsided deal, but not the political experience to realize this was dead from the start.
Hmmmm. State pension? So would that mean we can work for all other state and fire departments in Illinois and collectively add up all the years for a pension. Interesting. Opens a door for our younger officers.
They just came up with a “plan” to fix the issue a couple years ago and really haven’t even started implementing it. So now we get a new regime that doesn’t like the plan and it’s back to the drawing board?
I know I’m going to piss off a lot of retired guys for saying this, but their COLA is what is killing our fund and needs to be reigned in. Receiving 3% a year is insanity and everyone knows it. Adjusting COLA’s is how Arizona recently got their pension funds back in line and probably needs consideration.
Also, any plan should start a Tier 3 pension plan for new employees. I believe NYPD is already on Tier 6.
Does this surprise anyone? The state already has the highest debt for pensions in the country. Looks like a bitter fight to force these greedy corrupt criminal politicians to fund our pensions. And just where will those $millions for the Chicago casino go that we’re promised for our pension funds?
I commented on this scheme earlier this year on a post about pension fiasco well before Loafers was on the ballot, citing an article that was in Forbes or Crain’s.
Apparently this grand ideas coming from the newly elected, highly clueless, non-actuarial, ill equipped and overstaffed Lari LightLoafer. Just was another installment from hir progressive policy advisory pool who read or was nudged to test Springfield a little harder.
They are using the same proposal that the leech CTU are/been planning to sell lobbyists and Dems.
In short, it pools all the better funded and waaaaaay better managed downstate pension funds (and there are plenty doing well) into one central fund, likely controlled by another newly created IL gubmint agency.
Of course downstate doesn’t want this for obvious Chicago tainted reasons,
I believe the downstate union representation is also against this.
It’s also similar to how CPS gloms the lion share of IL funding for pathetic performance, something Rauner wasn’t keen on.
Teachers Unions across the spectrum are against taxing pension incomes.
Aside from all the barking LightLoafer is going to do, it’s not going to happen.
City Slicker JB Toilets will likely cave to CPS/CTU in one manner or another and screw the downstaters.
My prediction and depending on how well Madgroin Sr. fares with the Boner Solis tapes, JBee’s only going to be a 1-Term or less, leaving (or indicted) and in comes Lt. Goob Stratton and Kwaime.
Another Illinois first.
Mmm-mmm-mmmmmm.
So she wants state to be burdened with the bad deals the city and unions mad3. GOOD luck with that hope they tell her to stick it.
A state can’t declare bankruptcy, BUT if the City’s pension responsibilities are now on the State’s back it would a lot easier to open that Constitution and vote (with success) to change the pension. This is a very bad thing!
Government -- the "business" that increases its price as its competence falls, and never, ever cuts its cost.
I thought the casino money was to be used to store up the pension funds that the city has pilfered. I guess this dumb shit of a mayor has other plans for it already and fuck the city workers. Chicago should be called "the city of free hand outs" we city workers are so fucked and nobody seem to care especially the city politicians all they look at is more money to line their pockets
Well Now, the Wolf has stepped out of it's Sheep's clothing. And now Aligns itself with another Wolf. If this happens, the Pension will be lost sooner than later.
Here's a Novel Idea. How about the city begin to pay it's Pension debt? Stop all public works mammoth expenditures, and shore up the pension? The courts already told the city to do so! Yet the city fights tooth and nail to not pay.
We are a ways off from Pritzker agreeing to this. But the fact that it is on the horizon scares me most. I have Zero confidence that Chicago will fix this. And if it IS handed off to the state, even less. Littlefoot just want to get rid of(punt)this issue.
Wasn't the 2 tier pension system supposed to shore up the system, and then the city making payments was to begin further restoration? Seems we payed up on our end.
Well Democrats? Your charge has been taken over this city a long time ago. Shall we run another once great city into the ground? Keep voting for the same libtards, and all you will have is Libtards to vote for.
May God Help us All.....
Those down state taxpayers have to be sooo pissed that the ShitCago politicans are sucking them dry and now with the new Liberal ass , taxing Governor their screwed. Oh and by the way, ShitCago would like to thank the Downstaters for supporting their Sanctuary city and all the freebies that go with it!
"what u talking about willis" little gary coleman thinks that the good people of the state of illinois are going to chip in for chicago employee pension funds---- har dee har dee har har. Governor toilet bowl pumpkin head just stuck it up everyone's bum with no lube. This place is going to look like chernobyl in another 10 years.
Again, a naive victorious politician has no idea about the mess they've gotten into.
States cannot declare bankruptcy -- the constitution doesn't allow it.
They can, however, simply repudiate their debts and just not pay them. Some states have done this in the past:
https://mises.org/library/repudiating-national-debt
Municipalities CAN declare bankruptcy, but only if the state has formally permitted municipalities to do so.
Illinois' current disastrous financial condition makes it possible that the deadbeat Dems will allow cities to go bankrupt at some point.
Pritzker is against taxing retirees income
Sorry Lori should know it's not up to her to change the pension Need a consitutional amendment to do that.
My downstate pension is funded at 90 percent. Fuck you Lori.
Just keep on kicking that pension can down the alley.
Each politician who was elected to run this city ignored payments, fanangled via union contracts, failed attempts at casinos, and threw in a number of excuses.
Daley’s nephew stole millions from the CPD pension piggy bank and no repercussions.
No casino because someone in the political echelon needs to have control over the $$$
And it continues to be a mess.
Now let’s make the State pay for it.
No wonder people are leaving illinois by the thousands.
Police officers pay their share into the pension system, the city has Exponentially Failed on their part.
STFU does the residency rule have to do with the pension mess. Your really dumb if you think that lifting residency will help out of city people feel better about your pension mess. Your as delusional as Lightweight is.
I thought the democrats said taxes should only increase for millionaires. If you vote to approve JB's "fair tax", watch for the bait and switch the following year to declare anyone with a job rich and subject to higher taxes. I'm still waiting for JB to release his full taxes.
these dumb and dumber Democrats! the voters must switch to the Republican Ticket and Vote for more Conservative Minded Candidates not the same old and same old Dumb and Dumbmer tax and spend candidates like "Fat Boy" J.B. Pritzker and Company!
It’s true that states cannot declare bankruptcy. But they will cut benefits to the bone. Might be time to retain a law firm to fight this nonsense.
Everone just move out of state. Illinois is dead
In 2017, Illinois pensions were funded at 38.7%. What a dismal set of circumstances. By the way, Wisconsin is funded at 102%
That's ok..you can't smoke tobacco in public bars...but u can smoke weed
I don't think it matters what most downstaters think. What matters is what Madigan thinks. Chicago is heading for bankruptcy and that would negate all union contracts and pension laws.
LOL the most naked and transparent attempt to offload a hot potato I have yet ever seen
Anonymous said...
Tax any pension benefit that originates in the state of Illinois wether from a company based here or a governmental entity located in Illinois, this way you still get taxed even when you move out of state.
6/29/2019 01:44:00 AM
Not going to happen. California tried that years ago and the US Supreme Court shot that down.
Shame these dem libs hate trump. They can’t ask the feds for any type of bailout. They burned that bridge with their sanctuary city, anti trump bullshit. He loves the police.. but, can’t tolerate these socialists nincompoops. We will get our pensions taxed or cola cut within 3 years. Hard times ahead. Don’t bullshit yourselves
A question. If Chicago declares bankruptcy, do they still have to pay the parking space contract?
Anonymous Anonymous said...
I thought the Chicago casino was going to fix everything?
6/29/2019 12:41:00 AM
I hope you really didn’t think that
Anonymous Anonymous said...
Lift the residency rule if you expect tax payers statewide to foot the pension debt.
6/29/2019 12:33:00 AM
Not going to happen
Move and Illinois CANNOT tax you.
History
Prior to 1996, some states maintained statutes allowing for "source taxes." These statutes required people who earned pension income in a state to continue paying taxes to that state even if they no longer lived there. For example, a 1989 report in the Schenectady Gazette describes the plight of a retired woman who earned a pension from California. Though the woman had moved to Nevada more than nine years earlier, she still received a tax bill from the state of California for her pension income. Seniors across the United States faced similar scenarios, thanks to various incarnations of this source tax law.
Source Tax Law
On Jan. 10, 1996, Congress enacted the Pension Source Tax Act of 1996 (P.L. 104-94). This law specifically stipulates that, "No State may impose an income tax on any retirement income of an individual who is not a resident or domiciliary of such State."
I'm a retired fed in southern Illinois who worked public corruption cases. I have been cleaning out my garage in anticipation of this devious behavior by the greedy Chicago Democrats who are destroying this state. Been here 35 years but am looking for a place where liberals are not ruining the place. Several friends have already moved south.
So how's that selling your soul to the democrat party working out for you?
Life on the democrat plantation sucks, doesn't it?
Did Lori Cut Rahm Health insurance, he didn’t think retirees were entitled to city paid health insurance? Did she cut his security detail?
Children are being shot,murdered ,dead from drug overdoses? Tiny dancer better not being protected on tax dollars .
Cut those Gold Braid pensioners pompous Brown Noses killing us.
It seems the chickens are coming home to roost er roast after all these years of merrily stealing from the pension.
Why do I believe that even if we flee now, city/state will tax anyway?
Make jelly belly empty his pockets. He’s already grafting to his staff. May as well fund the pension. After all, he and his crooks did this mess. They should pay to clean it up.
Use the TIF money, Casino money and Marijuana money to shore up pension obligations first. Simple solution
Sounds like a good idea if it works out.
That’s a big IF though.
Anonymous Anonymous said...
I wish the Feds would do an investigation into anything pension related and find out if any shadyness was involved in the fund. The fund is ripe for corruption and we know Chicago politicians can’t help themselves.
6/29/2019 12:40:00 AM
There’s no if, and, or buts about it.
Our pension fund started down this perilously slippery slope decades ago when Shortshanks stopped properly funding it and then opened the door for relatives and politicians to dip into our fund to wet their beaks.
It’s been all downhill ever since.
Let's be clear about this. They have the money. THEY HAVE THE MONEY. They refuse to put it into the pensions.
Politicians here like to use public money to reward contributors and buy votes so they can stay in power.
Funding the pensions, regardless if said pensions were promised and enshrined in state law, will not help politicians stay in power because the money won't be used to reward contributors or buy votes. Funding the pensions is like lighting the money on fire for a politician.
This City is collecting more revenue than at any time in its history. This City has untold assets. This City is not near bankrupt. Spending needs to be reallocated, and TIF funds can be redirected to the pensions instead of being used to reward political contributors with $200 million plus for stadiums or river walks.
The City controllers simply don't want to do what is necessary to fund the pensions. They want to continue to perpetuate the myth that there IS a pension crisis because they don't want the gravy train to end. Not even for a few years that it would take to get the pensions back on track.
Easier for them to attack us in the press, get the public against us, fecklessly use nebulous claims like "28 BILLION in future unfunded liabilities" (whatever that means, trying to forecast future costs is never accurate), and try to get out of their legal obligations by changing the law.
CHA gets close to a billion a year. CPS gets 6 BILLION a year (diminishing returns, anyone?). The bloated City Council of Aldermen gets 50 plus million a year. Figure it out.
And on our end, we need to figure out how to really play dirty and force the City to cough up what was promised. We signed on and held up our end of the bargain, contributing to the pension and living in this hell hole, missing holidays and weekends with family and friends, dealing with the worst of humanity, and all the rest.
We've EARNED our pension, officers. We cannot let them forget that and let them off the hook.
Chicago doesn’t so much have a revenue problem.
They’ve got a priority and spending problem. It pretty much is as simple as that.
Was directly involved in the Kamel Harris charging (the guy who killed a two-year old, dismembered his body and dumped the body parts into Garfield Park Lagoon). Although CPD solved the case, we knew that the actual murder occurred in Rockford, Illinois (Winnebago County) I believe. Once we arrested him, the CCSAO said that they would prosecute the case. Biggest regret of my career, I should have argued to let Winnebago County State's Attorney to prosecute the case, because the ASA's who handled it here dropped the ball and the jag-off walked free after a jury trial. In Winnebago county, they probably would have given him life without parole! No jury in Winnebago county would have fallen for his complete bullshit story, but in Cook County..... the police are always wrong!
After retiring from CPD (650) moved to Winn County and worked as a reserve deputy for the sheriff's office. Different ball game out here. There are still screw ups but people go to jail for things Cook County would just walk away from. Marilyn Hite-Ross is the WCSA and I believe she is from Cook Co. Rumors are she's not very competent and her office has lost a couple of heater cases. But in the long run it is a totally different game out here.
"To pay the cost, Lightfoot reportedly supports state legislation to tax retirement income of better-off seniors—taxing income above $100,000 a year would net roughly $1 billion annually,"
Yea Right/ This is Illinois and if you let JB and LL "tax the rich" retirees over $100K , Madigan will lower that to $20K within 3 years It is just a ploy to get the camels nose under the tent just like the Progressive Tax.
"Tax the Rich" today and then change the definition of "rich" until everyone is considered "rich."
The Illinois Exodus continues unabated ......
12:50AM...
You're drunk. Some people take crazy pills.
In the end it washes out.
Anonymous said...
I wish the Feds would do an investigation into anything pension related and find out if any shadyness was involved in the fund. The fund is ripe for corruption and we know Chicago politicians can’t help themselves.
I’ve been wondering about this. So, in the past 30 years who has been in “control” of the pension fund? Every person involved. Dates, names, management companies and fees, etc. Also, the names of the actuarial(s) who supposedly miscalculated how much contributions should be. Any pension holidays taken and who voted on it and when/whether money was paid back. These details are available. So sick of this pension crisis bullshit referred to like some sort of natural disaster or act of God.
The Democratic Party fiscal policy's are coming home to roost. With fat ass as the governor and Lorrie the mayor watch before the next governor/mayor elections this state will be California like: so far in debt that it can not dig itself out of a hole without federal government assistance. I think what most elected democratic governors and mayors are hoping for is one of the twenty idiots running for President win so he/she will bail out the Cities and States. President Trump is only putting out the inevitable. Lets hope he wins in 2020.
Anonymous Anonymous said...
Lift the residency rule if you expect tax payers statewide to foot the pension debt.
6/29/2019 12:33:00 AM
Do you think that would make any difference at all? No one south of I-80 cares at all about our residency requirement, as it has no effect whatsoever on their lives.
I predict this mental midget will be indicted within the next 5 years.
This fucking city was in better shape the day after the GREAT SHITCAGO FIRE !!!!
J.B. will not allow it. It interferes with his aim and plans of J.B. in 2024.
A wise bird told me that the stupid scheme of the Peotone Airport is about to re-emerge prominently. Could some brash Cook County “City Slickers” have been hoodwinked by a bunch of “hicks” wearing wires?
Shes nuts!
Here's an idea...get rid of the "NEW" police and fire academy..thats at least 90 million into our pension and scratch the Lincoln Yards development, save tiff money on a 6 billion dollar project we dont need. Dont have to be a brain surgeon to figure it out Mayor Dumbass.
Prelude to the attempt to get the constitution amended.
So now they’re going to fall forward with legalizing weed and Laurie says this;
Mayor Lori Lightfoot’s office won’t say whether she plans to push to allow those sorts of businesses in Chicago or discuss how the licensing process will work, only that city officials will be working “to ensure this legislation is not only rolled out safely and equitably throughout Chicago but also enhances our local economy and community businesses while prioritizing public safety.”
https://chicago.suntimes.com/2019/6/28/18761645/marijuana-legalization-illinois-cannabis-smoking-ban-smoke-free-exemption
Let’s explore the Chicago way the head of her security detail has a security company which protects marijuana businesses Golly gee whiz Wally, Do you think she will allow smoking inside Dispensery’s smoking inside of restaurants that would be the Chicago way consider the connections.
Screw that idea of taxing pensions. Kiss my ass.
There’s TIF money. And as long as there is, Chicago isn’t bankrupt.
lori is a dumbass ..she could have presented this proposal before legislative
session ended ..instead of bashing cpd everyday..now she must present chicago
budget.. before springfield can give any help..fake Chicago mayor
The leeches driving the State into ruin are the Democratic run governments that have controlled city and other mega cites for years.
Was directly involved in the Kamel Harris charging (the guy who killed a two-year old, dismembered his body and dumped the body parts into Garfield Park Lagoon). Although CPD solved the case, we knew that the actual murder occurred in Rockford, Illinois (Winnebago County) I believe. Once we arrested him, the CCSAO said that they would prosecute the case. Biggest regret of my career, I should have argued to let Winnebago County State's Attorney to prosecute the case, because the ASA's who handled it here dropped the ball and the jag-off walked free after a jury trial. In Winnebago county, they probably would have given him life without parole! No jury in Winnebago county would have fallen for his complete bullshit story, but in Cook County..... the police are always wrong!
After retiring from CPD (650) moved to Winn County and worked as a reserve deputy for the sheriff's office. Different ball game out here. There are still screw ups but people go to jail for things Cook County would just walk away from. Marilyn Hite-Ross is the WCSA and I believe she is from Cook Co. Rumors are she's not very competent and her office has lost a couple of heater cases. But in the long run it is a totally different game out here.
6/29/2019 11:33:00 AM
Never forget Marilyn Hite-Ross was part of the team that stuck it to our friend JVD. Fuck her and her phony wig.
Lift the residency rule if you expect tax payers statewide to foot the pension debt.
6/29/2019 12:33:00 AM
What does one have to do with the other? You are delusional.
The really dumb thing about taxing retires is that all they do is put $ into the economy and pay taxes most of their medical expenses are picked up by medicare but they do vote in numbers out of proportion to the rest of the citizens
Not happening!
The rest of this state hates Chicago and Cook county!
No help from the Red areas of this Crooked state!
6/29/2019 06:05:00 AM
They sure do hate us and justifiably so. We need an Illinois Electoral College for statewide elections so Springfield is no longer solely controlled by the Cook County democRATS. There are 101 other counties in Illinois. One political party of one county controlling everything is why we are in such bad shape.
There’s no if, and, or buts about it.
Our pension fund started down this perilously slippery slope decades ago when Shortshanks stopped properly funding it and then opened the door for relatives and politicians to dip into our fund to wet their beaks.
It’s been all downhill ever since.
6/29/2019 11:20:00 AM
It is astonishing shanks has not been tarred, feathered and kicked out of Illinois. He sure deserves it for the games he played with our pension fund.
The next time the Dems control both houses of Congress and the Presidency, there will be a Federal bailout of Chicago (along with other jurisdictions that are drowning in debt). Student loans, too.
Plenty of other countries have inflated their debts away. Why not us?
Anonymous said...
In 2017, Illinois pensions were funded at 38.7%. What a dismal set of circumstances. By the way, Wisconsin is funded at 102%
6/29/2019 09:59:00 AM
Simple solution. End pensions for new hires. Those collecting or paying in will still get a pension. 50 years from now almost no one is collecting anymore and as people get older and die the funding percentage goes with them.
"Pritzker is against taxing retirees income."
- - - - - - -
LOLOL!!! Next you'll want us to believe he's against pandering!
I thought the Chicago casino was going to fix everything?
6/29/2019 12:41:00 AM
They have been doing it all along. Everything is "fixed"!
I predict this mental midget will be indicted within the next 5 years.
6/29/2019 01:04:00 PM
Which mental midget? We are loaded with them! Take your pick.
pension amendment coming that will cover what you already earned,going forward 401k,and yes there will be lawsuits!
That would be every CPS teacher, Streets and San laborer, City Hall secretary ...! Basically, every city employee! Sounds good to me!
Put Rahm and the stuttering prick Daley in front of a grand jury!! Let them explain where all the money went!
I live downstate fix your own fucking mess, You voted for the democrats all your life, enjoy it!
Anonymous Anonymous said...
"But we have a hard time seeing downstaters agreeing to this. They already view Chicago and Cook County [politicians] as leeches driving the state into ruin."
posted by SCC at 0003 Hours on 29 June 2019.
And, they are right!
6/29/2019 12:10:00 AM
Actually, but from the numbers I'm seen in a couple of studies, that is not true. Here's one of the latest ones.
https://www.chicagobusiness.com/greg-hinz-politics/heres-who-really-getting-most-state-spending
Do you have any other number that support what you're saying? I would love to see them. I know it's cool in some circles to hate on Chicago like it's a burden on Illinois, but the numbers just don't support that.
But yeah, views are pretty polarized, and that was also looked at in the study.
A casino will not save the city pensions. A one percent city income tax on incomes under $100,000 and a 1.2% tax on anything over would wipe out all city financial shortcomings. It is DOABLE!
Very soon they’re gonna need steel toed boots to kick that big ass can.
Anonymous said
“There will be a wailing and gnashing of teeth as has never been heard in this city and state. Unfortunately, us retired coppers will not be spared.”
Are you kidding me? There will be a reckoning!!! Think about some of the guys you worked with over the years do you really think everyone is going to roll over for this shit especially if they attempt to reduce the percentage of our monthly annuity? Those who worked their entire careers in the worst of conditions for an ungrateful city with the hope of a better life afterward to be reduced to a life of poverty. Well I guess we’ll see how bad things get, but my guess is that there will be a reckoning by some who will have nothing to lose. There is going to be a revolution in this country why do you think the liberals want to take your weapons? Pray it doesn’t come to that!
Tax the pensions above $60,000+ supposed to retire with dignity not live like kings! Do you realize most in private sector will never be able to retire.
Anonymous said...
There’s TIF money. And as long as there is, Chicago isn’t bankrupt.
6/29/2019 03:25:00 PM
Pause contributions to TIFs to fund pensions there is plenty of money!
Why does ohare need a new terminal? What purpose will a new terminal have?
Why does Chicago need new street lights?
Why is Chicago a sanctuary city? Did we vote on it?
When will the politicans cut spending?
Anonymous said...
They just came up with a “plan” to fix the issue a couple years ago and really haven’t even started implementing it. So now we get a new regime that doesn’t like the plan and it’s back to the drawing board?
I know I’m going to piss off a lot of retired guys for saying this, but their COLA is what is killing our fund and needs to be reigned in. Receiving 3% a year is insanity and everyone knows it. Adjusting COLA’s is how Arizona recently got their pension funds back in line and probably needs consideration.
Also, any plan should start a Tier 3 pension plan for new employees. I believe NYPD is already on Tier 6.
6/29/2019 07:36:00 AM
No tier less benefits I am sick of paying for those already retired golden parachutes while I get less!
Just got back from MT.
ZERO TAXES on everything except boose.
No traffic.
No crime.
No gangs.
No refuge problem.
No red light cameras.
No school speed safety zones.
No safe school passage.
The wildlings are bison related.
Roads are smooth.
Speed limit is 80 mph.
The sky is is yuge and blue!
DBEL
Anonymous said...
Was directly involved in the Kamel Harris charging (the guy who killed a two-year old, dismembered his body and dumped the body parts into Garfield Park Lagoon). Although CPD solved the case, we knew that the actual murder occurred in Rockford, Illinois (Winnebago County) I believe. Once we arrested him, the CCSAO said that they would prosecute the case. Biggest regret of my career, I should have argued to let Winnebago County State's Attorney to prosecute the case, because the ASA's who handled it here dropped the ball and the jag-off walked free after a jury trial. In Winnebago county, they probably would have given him life without parole! No jury in Winnebago county would have fallen for his complete bullshit story, but in Cook County..... the police are always wrong!
After retiring from CPD (650) moved to Winn County and worked as a reserve deputy for the sheriff's office. Different ball game out here. There are still screw ups but people go to jail for things Cook County would just walk away from. Marilyn Hite-Ross is the WCSA and I believe she is from Cook Co. Rumors are she's not very competent and her office has lost a couple of heater cases. But in the long run it is a totally different game out here.
6/29/2019 11:33:00 AM
Never forget Marilyn Hite-Ross was part of the team that stuck it to our friend JVD. Fuck her and her phony wig.
6/29/2019 03:58:00 PM
Never play cards with a man who has the first name of city
Never get less than 12 hrs sleep a day
Never get involved with a woman who has a tattoo of a dagger somewhere on her body
And never, ever, trust a woman who has two last names
Now you stick to that, everything else is cream cheese
The forensic unit can’t keep up with all these shootings and homicides
Anonymous Anonymous said...
“I'm a retired fed in southern Illinois who worked public corruption cases....”
You should have done a better job.
🕷
Eliminating residency requirements for CPD Will be a big part of the solution.
It will be the key piece that will jump start resolving Chicago's financial
problems. But it will cost you guys. A lot. It will also enable the mayor to
professionalize the CPD which the mayor appears to have as a priority.
The mayor knows this. It is the biggest bargaining tool she has with CPD.
The big question: How much will you guys be willing to pay for ending the
residency rule?
If it is dropped I do not think that there will be a mass CPD exodus from the City. Some will leave but most will stay. Same is true for CFD.
The CPD will benefit from the ability to recruit officers who would love to be CPD iF
they did not have to live there.
Your freedom will be very expensive.
The problem with the American political system is that it's run by lawyers and middle management types. So there is a significant percentage of loss within each and every transaction. Other countries that lack the resources and comparative advantages of the US must keep their legal and business classes in check, as they can't afford to let parasites from law schools and liberal arts programs run their economies into the ground. Unfortunately, we aren't going to be able to get rid of these creatures anytime soon so all that can be done is to stay one step ahead of the tide, as the sewer overflows. When a city or state in is contraction, all we can to is to plan an exit from the sinking ship. Unless one has the clout to take advantage of the chaos, to stay behind is madness. It's not going to get any better without massive inputs of capital, both human and fiscal. If the money is here, then the hogs will be slopped and the working stiff can still get by. But the fat ones will always be the first at the trough, and if there is nothing left, the rest of us are SOL. That's the American Way and we can't change it, just have to deal with it
Lots of unexplored turf here:
First off, States cannot file for "Bankruptcy". They might, however end up in either "Receivership" or under what is called a "Special Master". The State of Illinois could also end up loosing "Statehood" and reverting back to a "Territory" status. Vast number of unknowns here.
Also, IF the City of Chicago went into Bankruptcy, that means what the prior Governor proposed was correct. That ain't happening. That's political suicide at the State level.
Lastly, IF the City of Chicago pension funding becomes the State's problems, likely all existing State (and much non City of Chicago) bonded indebtedness automatically goes to Junk Bond (non investment grade) status. IMO, You just drove everybody else's credit ratings into the toilet. There's NO free lunch here.
However, being it's Governor 'Piggy' Pritzker, there's no real problem, as he's an expert on TOILETS.
I retired on a public safety retirement and moved out of state the next day to a state that has an income tax rate almost 1/3 of the state that I worked in for just short of three decades. That move saves me more than $9,000 annually and that is big money when you are living on a pension.
***
Yes sir, I’m not a math wiz but you managed to keep $270,000 of your OWN MONEY from these leeches. Seriously, you gotta be crazy to stay in this wealth-distribution hub. Honestly, who the fuck do they think they are. Taking all this money from people who have worked their whole lives to fund corrupt politicians and a failed social experiment of people that don’t contribute to society. I can’t wait to follow suit. I hope you live many more HAPPY years!
"Anonymous Anonymous said...
what the post does not state is there is quite a few well funded funds.
chicago park district is one. the other funds are the politicians judges and other government do-gooders they tap from is another.
will fatty fatty 2x4 include this as well?
he learned the rahm fuck you management style real good."
Unfortunately you are very wrong. The judges and general assembly pension systems are the lowest funded pension systems in the state.
Let's be clear about this. They have the money. THEY HAVE THE MONEY. They refuse to put it into the pensions.
100% agree, And that is something everyone needs to take note of. Any and every social project that involves millions of dollars that is created by the administration is always funded. Where's that money coming from? Chicago is sitting on a lot of dough hidden in "investment" funds that are not part of the "operating" funds available for day to day bills, including the pension. It's like saying I need more money because I only have $1,000 in my checking account, but I don't say anything about the $50K in money markets and CDs.
Can you feel the love from down state? Yeah me neither.
6/29/2019 09:39:00 PM
I'm one of your "PORGS. What, did yo=u get a GED in accounting? Put your hands in you pockets, and step away from the computer. You aren't one of us, We earned a pension, and you want to modify it for your own benefit?
Find a rope, and see how far you can pee up it.
Anonymous Anonymous said...
They just came up with a “plan” to fix the issue a couple years ago and really haven’t even started implementing it. So now we get a new regime that doesn’t like the plan and it’s back to the drawing board?
I know I’m going to piss off a lot of retired guys for saying this, but their COLA is what is killing our fund and needs to be reigned in. Receiving 3% a year is insanity and everyone knows it. Adjusting COLA’s is how Arizona recently got their pension funds back in line and probably needs consideration.
Also, any plan should start a Tier 3 pension plan for new employees. I believe NYPD is already on Tier 6.
6/29/2019 07:36:00 AM
Our COLA is not compounded like most of the other pensions. The first COLA amount stays the same until you kick the bucket.
Well this is their chance to rewrite and revise HOW the pension fund operates. They'd be creating a NEW system and as such can say whatever they want in regards to how it operates or whether it can go bankrupt.
The whole point is private hands have wanted to get our pension money and this is one way they can do it. After that they can dole it all out to their friends and go bankrupt themselves when it's all gone and there's nothing anyone can do.
Keep private hands OFF of our money, they suck it dry with fees and cronyism. The only difference is, when it's managed by government we don't get bled with privateer fees while it gets disolved.
This looks like a way out, what it is is a way to give all the money away and rewrite a pension system that gets the payors off the hook when it's gone. Bet on it
Anonymous Anonymous said...
Lots of unexplored turf here:
First off, States cannot file for "Bankruptcy". They might, however end up in either "Receivership" or under what is called a "Special Master". The State of Illinois could also end up loosing "Statehood" and reverting back to a "Territory" status. Vast number of unknowns here.
Also, IF the City of Chicago went into Bankruptcy, that means what the prior Governor proposed was correct. That ain't happening. That's political suicide at the State level.
Lastly, IF the City of Chicago pension funding becomes the State's problems, likely all existing State (and much non City of Chicago) bonded indebtedness automatically goes to Junk Bond (non investment grade) status. IMO, You just drove everybody else's credit ratings into the toilet. There's NO free lunch here.
However, being it's Governor 'Piggy' Pritzker, there's no real problem, as he's an expert on TOILETS.
6/30/2019 01:47:00 AM
---
the pension IS the state's problem. It is backed up by the State of Illinois. As far as I know Detroits was NOT backed up by the State of Michigan.
Anonymous Anonymous said...
A casino will not save the city pensions. A one percent city income tax on incomes under $100,000 and a 1.2% tax on anything over would wipe out all city financial shortcomings. It is DOABLE!
6/29/2019 07:57:00 PM
---
Thats; what NYC does - not sure of the percentages, but they have a city income tax.
Anonymous Inspector Clouseau said...
Anonymous said...
I wish the Feds would do an investigation into anything pension related and find out if any shadyness was involved in the fund. The fund is ripe for corruption and we know Chicago politicians can’t help themselves.
I’ve been wondering about this. So, in the past 30 years who has been in “control” of the pension fund? Every person involved. Dates, names, management companies and fees, etc. Also, the names of the actuarial(s) who supposedly miscalculated how much contributions should be. Any pension holidays taken and who voted on it and when/whether money was paid back. These details are available. So sick of this pension crisis bullshit referred to like some sort of natural disaster or act of God.
6/29/2019 12:34:00 PM
---
I doubt the actuaries screwed up. The City just failed to pay. In the private sector there are also kinds of funding formulas and they are very tight. Federal Law punished the employer if they fail to make the required payments. The city pensions are not governed by this federal law. I can't remember the name of the federal law at the moment. ... ah. ERISA - Employee Retiremnent Income Security Act.
Anonymous Anonymous said...
I thought the casino money was to be used to store up the pension funds that the city has pilfered. I guess this dumb shit of a mayor has other plans for it already and fuck the city workers. Chicago should be called "the city of free hand outs" we city workers are so fucked and nobody seem to care especially the city politicians all they look at is more money to line their pockets
6/29/2019 08:06:00 AM
--
How about this - a casino is out-and-out socialism. A fucking city is not supposed to own a for-profit business. What, is CHicago going to start buying grocery stores next?
How much money goes into TIF districts everyone acts like that money is not there?
Anonymous said...
Tax the pensions above $60,000+ supposed to retire with dignity not live like kings! Do you realize most in private sector will never be able to retire.
Ummm, above 60k is not living like a king, maybe tax above 100k. Fyi we pay roughly $1000 a month into our pension depending on pay rate. And you can’t not pay it, automatically deducted. Oh and we miss many, many holidays, thousands of weekends, shitty hours, interact with the scum of the earth, days off cancelled and wear a bulletproof vest to work. Unlike the private sector. You could have signed up for the job but didn’t. Now I’d like to extend a hearty Go Fuck Yourself in your direction.
So let me get this straight letting potentially 10,000+ taxpayers sell homes in good neighborhoods and move out will help the city financial problems? Right. Your nuts those neighborhoods will become more community havens and filled with non taxpaying leeches. Property values will go down and the and tax revenues for those existing homes will be lower very quickly. I lived in Austin in the 60s when white flight happened. Only took about 3-5 years before the neighborhood converted to what it is today. Not safe at any tome of day or night. So if you think this the solution to all the city safety and financial problems good luck. It will not work.
Besides to get the residency lifted your going to have to take a major pay hit, I'm guessing somewhere in the 10% range, ready for that. Oops, there goes any retro check, you'll be lucky if city doesn't want the last years difference paid back.
The day of reckoning is fast approaching. Your pensions are in grave danger of being severely cut once the Constitution gets opened up. The Democrats can't tax their way out of pension mess and stay in office so they will open the Constitution up to keep their jobs. It is the Chicago Democratic Way, hold onto power at all costs. Your voting block doesn't matter at all to them you have become expendable and they can do what they want to you and your precious pensions. Just what are going to do about it other than bitch a lot. Sorry but those are the facts, the Titanic has sailed and your along for the ride.
Anonymous said...
Can you feel the love from down state? Yeah me neither.
6/30/2019 07:44:00 AM
The rest of the State hates Chicago and Cook County!
BumperMorgan said...
Let's be clear about this. They have the money. THEY HAVE THE MONEY. They refuse to put it into the pensions.
100% agree, And that is something everyone needs to take note of. Any and every social project that involves millions of dollars that is created by the administration is always funded. Where's that money coming from? Chicago is sitting on a lot of dough hidden in "investment" funds that are not part of the "operating" funds available for day to day bills, including the pension. It's like saying I need more money because I only have $1,000 in my checking account, but I don't say anything about the $50K in money markets and CDs.
6/30/2019 06:06:00 AM
What it comes down too is they don't want to pay people who aren't working but look at the top pensions on BGA site what's bankrupting these funds cap pensions at $100,000. Some retire and are millionaires within a few years while the rest in the private sector retire in poverty on just social security. Oh I should sign up for the job no one wanted to fudge the list for me wrong political party!
Anonymous Anonymous said...
A casino will not save the city pensions. A one percent city income tax on incomes under $100,000 and a 1.2% tax on anything over would wipe out all city financial shortcomings. It is DOABLE!
6/29/2019 07:57:00 PM
---
Thats; what NYC does - not sure of the percentages, but they have a city income tax.
No tax is going to help if the politicians continue to spend more than they take in. And that’s the way they do it. Tax more then spend more
in 1997 our municipal pension was funded at 96%. mayor mumbles wanted some of that action for a few personal friends but miriam santos ( who was honest ) said no. after the bridgeport bomber asked everyone around him what that word meant and got nothing but shrugs he asked a non bridgeport aide who could actually read to look it up in websters. furious that someone would actually say that word to him he plotted his revenga. next thing you know poor miriam goes to jail for selling daley tickets. no plot there. along with a series of flunky treasurers including fried rices daughter king richard just quit paying into it. pension holidays. try that with your mortgage. just tell your bank youre a very important person and youre taking a mortgage holiday. youll get back to em later. that money went to soldier field and navy spear and the mag mile and of course kenny and walsh const. next thing you know we have that recession thingy and old mumbles says ill gladly pay you tuesday for a hamburger today. then comes new boss same as the old boss. comes in poor goes out rich, now a political wizz kid and play secret service detail to boot. like many have said here the money is available. we are no longer their favorite kid. we are the bucktoothed bastard redhead now. many more politically desireable "children" out there to spend on. we hate them and they hate us. the ghetto, illegal and lgbtq communities need money too and they are currently on the lap. the most damning factoid is nomatter what they tax next, weed, casinos, pensions, city tax, doesnt matter. they will not pay their existing obligations. its not glam and doesnt get them public ribbon cuttings and their name in lights on a new public edifice and speeches and editorials about how they are helping the peoples. they are theives. they have always been theives. now they are in your face about it and dare you to do anything about it. the days of public service being in the spotlight and rewarded are over. now the spotlights on the lowest common denominator as trusted partners of the socialists as the fundementally transform the country formally known as the united states. there is no solution, it will be every man for himself when this tsunami hits. good luck.
Original Post:
"the pension IS the state's problem. It is backed up by the State of Illinois. As far as I know Detroit's was NOT backed up by the State of Michigan.
6/30/2019 10:16:00 AM"
-------------
Actually, no. The City of Chicago pension obligations are not (yet) the State of Illinois problems. That's what the Mayor wants the State of Illinois to do, which is to take over responsibility for those City of Chicago pension obligations. There's NO provisions for any State backup on those City of Chicago pension obligations.
Btw, the City says those pension obligations are 'only' $28 bil, whereas Moody's estimates those obligations to be $42 bil. Arguing over pocket change......
Mayor Lightgroot had a weekend meeting with Governor Piggy. Would of loved to have been a fly on the wall hearing that discussion......
Our cola in 3 % simple interest the Bridgeport thug union(Street & San) and the park District and teachers pensions are all compounded every year. The police pension is the only one that gets a bad rap cause the media hates the police. We should hate them back along with the thieven democrats.
No need to guess. My brother left at 47 years old with just over 20 years. As soon as he hit 50 he began collecting his pension just over 50%. Call and ask the pension office. You are probably the same type that has been in fixed in deferred comp since day one. Uniformed.
7/01/2019 06:37:00 PM
You do realize if you invest in stocks or mutual funds in deferred you lose the capital gains tax break. All investments in deferred are taxed as ordinary income, not capital gains
Anonymous Anonymous said...
Original Post:
"the pension IS the state's problem. It is backed up by the State of Illinois. As far as I know Detroit's was NOT backed up by the State of Michigan.
6/30/2019 10:16:00 AM"
-------------
Actually, no. The City of Chicago pension obligations are not (yet) the State of Illinois problems. That's what the Mayor wants the State of Illinois to do, which is to take over responsibility for those City of Chicago pension obligations. There's NO provisions for any State backup on those City of Chicago pension obligations.
Btw, the City says those pension obligations are 'only' $28 bil, whereas Moody's estimates those obligations to be $42 bil. Arguing over pocket change......
Mayor Lightgroot had a weekend meeting with Governor Piggy. Would of loved to have been a fly on the wall hearing that discussion......
6/30/2019 08:35:00 PM
--
Then why would former Gov. Quinn require sign the law that requires the city to pay the $600 MILLION/YR to fund the pensions? WHy would the state care one way or another>?
Eliminate gold braid pensions and all ranks above lieutenant by 2020.
Very simple , we have qualified blue shirts that can run any unit ,district better than most exempt members . Offer them a car , adjustable hours , non pensionable bonus at end of year based on performance.
You will have a more qualified command staff for less pay .
I have heard it before , require appointed member captain and above to take the last sergeant exam , those that score under 85 are immediately demoted .
U-tube AM560 program of how FOP is claiming pensions are solvent, but we know better.
https://youtu.be/d_zGxPfWYM0
Anonymous Anonymous said...
Anonymous Anonymous said...
Original Post:
"the pension IS the state's problem. It is backed up by the State of Illinois. As far as I know Detroit's was NOT backed up by the State of Michigan.
Not the states problem. Regulated by the state constitution , not back by it. No way the state has any responsibility for the solvency of our pension or another financial reaponsubilty
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