Broke?
Um....what now?
- Any news on the city fuckup with the pension payments?
- I heard a rumor out of city hall that the city is currently broke...as there is "NO" money in the coffers. The city is waiting for some revenue streams to materialize...Brandon has so mismanaged things that bills can't be paid, and payroll financing is in jeopardy.
Not what we want to hear on the way out the door.
Labels: money questions, rumors
posted by SCC at 12:05 AM
164 Comments:
LOLsomething big is coming. Warren Buffet sold off all of his APPLE stock, that’s 400 million shares. Many billionaires are offloading stocks. Who’s buying you ask? Well… here’s the answer to that question, PENSION FUNDS. Dont know if this is a set up or what but our fund will go bust if the market tanks.
Still a 1,6 billion in covid money to spend pay me
He had plenty of money to give to illegals.
State law states that pensions can never be reduced. But if the city goes bankrupt, all contracts are void and we can’t get blood from a stone. If the city doesn’t have the money, they can’t pay us. But the city still has a lot of assets and we can sue to acquire those assets if they don’t pay.
If true, and as a city retiree I certainly hope not, it isn't totally unexpected. MBJ is woefully over his head. Preckwinkle seems to have abandoned him, perhaps she doesn't want to share power with the CTU?
Whatever, if city retirees aren't paid, and we paid in our share, teachers who haven't paid at all for their pensions should face the same fate. Too many decades of bosses expecting magic money to fill the coffers.
Thing is, does MBJ even understand what this shortfall will do to the city? Businesses, conventions, investors like feeling secure. If they see such a financial stumble Chicago becomes Detroit overnight. The death spiral will be unavoidable.
Too bad, Chicago was the greatest American city, bar none.
What Huh? Below is a report from the Sergeant's Pension Board Rep in the latest 'Chevrons" newsletter:
Pension Report By John Lally Pension Board Representative
The Fund recently received a preliminary report from Gabriel, Roeder, Smith, and Company
(GRS) of the actuarial valuation of the Fund. The Fund received a valuation of 23.4% of total funding obligations. This is actually a small decrease of 0.4% from last year, due in large part to the law change affecting the cost of living adjustment removing the birthdate restriction for those born after 1966. As a result, the city's required contribution for 2025 will be adjusted in order to account for the increase. The final report from GRS will be posted to the Fund website once it is voted on and presumably accepted at the coming board meeting. The full report should be posted to the Fund website in the coming weeks.
As of the end of May, for the payment year of 2024, the Fund has received $470 million of
the City's required contribution of $851,100,000, or about 55% of the total required amount. As of the same time last year, the Fund had received approximately 44% of the total required contribution.
Sergeant John Lally
"The trouble with socialism, is that eventually you run out of other peoples money to spend".
~ Margaret Thatcher - Prime Minister of the United Kingdom (1979–1990)
But there are millions for shelters, free food, health care, and debit cards for illegal immigrants.
More illegals and free stuff will solve this...
Vote democrat for more.
You got to know when to hold them, know when to fold em, know when to walk away, know when to run.
This will certainly break the city with the below fuckup.
From a previous post:
" . . . lawsuit was won about 3 years ago. Any SGT or LT who works a "Tour of Duty" (working Special Employment) is entitled by contract to receive .75 hours on the books. The city for years never added the .75 credit. The city states they are having "a hard time getting all the A & A's together" to add up the hours or money due. The judge has made it clear the city must pay interest EVERY DAY that the the time (or cash for the now retired) is not paid out to the grievants.
This sounds like an unbelievable incompetent FUCK-UP.
Bills will be paid. Banks will line up to give city lines of credit. However like the federal government the debt will continue to rise and the can will continue to be kicked down the road till something gives.
Politicians have no incentive to cut spending and never will till there is another meltdown like in 2008. The feds can cut spending and tax to pay down the debt over ten to fifteen years or so. The state can do the same. The city can dig out and fix the finances but it means cutting labor, raising taxes, and eliminating all pensions for new hires at one point. Cut labor cut bills and raise taxes and find new revenue sources.
It’s all possible but zero will to do it and only under extreme duress will any meaningful change take place. So let’s hope they keep paying all those pension checks with the flood of new retirees.
Why am I not surprised. Between conehead, Groot, tutu, and 9.5, the city’s been sliding into bankruptcy home plate for a long time.
Prayers they find a way to pay our LEO heroes and their pensions. 🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
Not gonna lie, i had high hopes for the gym teacher/supintendant but what a joke this has become. Homicides, car jackings, rapes dont matter, all this idiot cares about is cargo pants and bdus. Wow!! We are screwed, and this idiot is cancellling all are days offs too.
Are the county coffers empty?
Are the state coffers empty?
If our city is currently broke, aka, empty coffers, then what will the, cohorts all, county and state pilfering comrades do?
Pony up?
County board of pilferings?
State ass sembly of pilferings?
Comrades!
Buddies!
Can ya spare a billion dimes?
Pension direct deposits come from Northern Trust. https://www.northerntrust.com/united-states/home
Fuck you...Pay me.
Your pension S/B safe what happens when Cop & F/F checks don’t come in or bounce???? I know you can’t play the “Blue Flu” but why would ANYONE continue to work for free. Unless you’re a closet millionaire or want to get back into some tack tickle boots like da Bandit. Now is the time to lateral transfer!!!!!! Go to Iowa, every police & fire dept. Is hiring & they are “begging” for employees!!! Oh a friend told me that his Iowa pension is FULLY vested W/O any worries about demorats stealing (I’m sorry I meant “borrowing”) a fully funded pension, a state that’s beautiful & they ALL back the Blue & F/F’s
Retired CPD husband and Retired CPD wife--we both got our pension payments this month--and yes, we did submit our notarized "proof of life" documents to the pension boars---not that there was any acknowledgment it was received.
On the plus side, the City is borrowing $1.5 B for low-incoming housing. Ya’ll need it when the deck of cards collapses. Enjoy the trip down.
Chicago is mismanaged by Mayor Johnson and his city manager’s he put in place. It’s only going to get worse. As it does get worse more people will leave. Not everyone is a city worker forced to live here. Everyone I speak with who isn’t a city worker has had enough of the Democrat machine. Most stopped voting because they feel there is a lack of alternatives.
But Chicago retains by far the worst debt rating of any of the largest American cities, and it has done nothing to reform its bad habits. In 2022, the city saw a delay in property-tax receipts, and, despite the flush times, money proved so tight that the pension funds could not pay current retirees.
https://www.city-journal.org/article/how-debt-ate-chicago#:~:text=But%20Chicago%20retains%20by%20far,could%20not%20pay%20current%20retirees.
https://www.amazon.com/Chicago-Broke-Funding-City-Deserve/dp/1365109771
This isn’t the year 2013, the city has been so mismanaged by Lori Lightfoot and now Brandon Johnson that we are screwed.
Chicago is number one for pension debt.
https://www.illinoispolicy.org/each-chicago-taxpayer-on-hook-for-nearly-42000-of-city-debt/
https://m.youtube.com/watch?v=OF_NAaxwQkI
The migrants / illegals are of more of a concern to Chicago’s leaders; than the people who actually grow up and live here.
The new slogan will be we moved from the second city to a destroyed city.
Go WOKE! Go broke………
Last one don’t bother turning off the lights, they’re broke! Light bill wasn’t paid!
The Democrat Party went so extreme and crazy that they messed up all the cities. The Democrat Party created the division of red and blue areas. The Democrat Party is solely responsible for all the destruction of cities across America. The Democrat Party is responsible for all the divisions in America. Fake news and sound bites to stirrup lies, hatted. So awful.
Really SCC....
You might miss one check, yet the "new comers" have nothing...don't see them complaining or worrying...
Let your "betters" hand this, just vote democrat for more.
.
Not surprised! Total mismanaged! If the city is managed anything like the police department we are doomed. Promote the least likely to get the job done. No strategy or plan. Unbelievable! Most incompetent at the top!
When it's all said and done says...
More buses of illegals will solve this, they are hard working and seek jobs. We must give them work permits and voter ID's...
.Don't forget to vote democrat,...or your racist
Voters to blame!
https://m.youtube.com/watch?v=ZRE9mGfGDVg
Even Stevie Wonder can see Chicago is broken.
Let's sell the skyway...no wait...the public parking...no wait...
...It's Nixon's fault...
Vote democrat for more.
I hope that funds for midnight basketball are available....
.....Don't make me call the Revruns....
.
It wouldn’t surprise me.
Bullshit!! Dont listen to any rumors about the City being broke!! They have been saying that for years but all of a sudden we have been spending billions on these fucking illegal moochers and wait till you see what Mayor Dipshit gives to the CTU and their contract...well see how broke they are. Force the City to open their books and they will find it quickly.
Hope we have money for pride flags and stuff.
The City has always been lazy in paying its bills..how many car washes have dropped us because they City didnt pay up! Heres a fact..My brother In Law owned an Animal Hospital in which the Chicago Canine Officers would bring their dogs in for care. After yrs of treatment the Animal Hospital billed the City $50,000 in which they refused to pay because quote "WE didnt budget for that". Well, The Hospitals attorney sent a letter to the City threatening a lawsuit and to go to the media. So, within a week, guess what, the City paid up. (Money found i guess).
Finally the City Hall money tree is dead.
I have an IDEA....Let's raise taxes....fees.
You got money, otherwise you wouldn't be complaining.
Vote democrat I say...Vote democrat.
Too much going to the illegals
Can verify the overall financial picture is grim. CPD, and a bunch of other Departments, has become addicted to using OT to maintain operations to the tune of hundreds of millions in cost over runs. With the days off cancelled palooza for August, we’re looking at tens of millions of dollars that don’t exist going into OT instead of the pensions. Deferred comp all day long is the way to go
The city spent all our tax monies on criminal illegals in our city for Democratic votes!
Yea, keep voting for Democrats you fools!
Make sure you cancel all your life plans to guard his party at the DNC, though. He and the feds will for sure have your back.
You want it to be a real third world city? Start shaking down the "immigrants", and put that money in a self directed IRA.
Morale is the lost ever. This is just another FU by the nuts running things.
Incompetence as usual. In 1,000 years people will be looking at Chicago from the bottom of the lake. Like a lost city that was abandoned and fell into the lake.
My only regret in life is ever voting Democrat or staying in an Area so messed up. Wishing I would’ve moved along time ago.
Retired in Texas……
Yet this POS-bone head mayor will be at the convention showing his teeth grinning from ear to ear of his triangle shaped head. Hob-knobbing for a future spot in k a m a l a ‘s administration because he knows he’s a one term mayor.
Then again, it’s Chicago…..
Stay safe out there boys & girls!
2019 retiree was paid in
full
Lt HJ
Granny Clampett doing some damage in NOLA.
https://www.foxnews.com/us/new-orleans-police-chief-strikes-2-pedestrians-her-vehicle-injuring-1
I used to belong to Police Pension Accountability Group. I foolishly gave Giambalvo money. During the last pension board election it came out moved to Las Vegas. The Pension Board made her see a Dr. once a year while she was on disability. She moved back to Illinois and filed bankruptcy. And she wants to manage our pension fund?
When I asked her how much money she collected for the “Audit” and how much she paid for it “RO GIA” blocked me from the Facebook web site and refused to answer my emails. But yesterday I found an email, from her, asking me to fund her campaign flyer!
Before you vote her on the pension board ask her some questions:
How did you get hired when you were over 40 when the max age to get hired was 35?
Not counting the probation year and the year you were on the medical, how many months did you work a beat car before you had your slip and fall?
Are you not closer to 80 years of age than 70?
Like a failed politician who lives off of the campaign money of lost elections, think twice or six times before you give her money for another futile attempt again at getting elected!
Doing business with Chicago? Cash in Advance only if you want to get paid.
Lie….city just made more payments to pension fund.
Signed,
Your legit source
The Marxist dems will screw the city workers especially the police before the welfare class and now the illegals. And remember the Illinois Supreme Court is majority liberal now!
I call total BS! However, the mismanagement of money by this idiot mayor is definitely possible but pensions and payrolls will always be paid.
Just look watch Lightfoot and Johnson have done to Michigan Ave. Retail business. And also, STOP giving taxpayer money to illegal immigrants! It’s so simple! Don’t be a sanctuary city. Revenue is for the taxpaying Chicago citizens. And media, do your jobs. You know Johnson is destroying Chicago.
Never would have guessed- you mean to tell me that a candidate that couldn’t manage his own personal finances is having trouble managing a city budget?
The voting population is so fucking stupid.
Fund the pension fund before the Ukraine.
Take care of our citizens before other nations.
If my pension check stops coming I promise that you WILL be seeing me on the news. National news.
Officers still haven’t received certification stipends. FOP does not return phone calls or emails. No recourse.
You best believe the writings on the wall ! This incompetent, ignorant ass mayor is bankrupting the city ! All this money spent on these illegal aliens ! Sanctuary city bull shit at the expense of the taxpayers have completely drained all available resources ! The progressive socialist democrats have all but destroyed Chicago economically, and the debt continues to grow exponentially ! The Democrats will never be able to tax you enough to pay for all this socialist garbage, and the pension funds , forget about it , they don’t give a fuck about the working class legal citizens ! The city will declare bankruptcy, and all the pensions are fucked ! Will become the next Detroit in a very short time ! Just keep voting for those democrats, and you will get exactly what you deserve !
Believe according to law if the pension cannot paid, it is considered just like owed salary. The city must pay before all other debts are paid. But who knows in this illegal immigrnat world the city may ignore that.
Pensions? Don't talk about pensions. You kidding me? Pensions? I just hope we can get another paycheck.
Yikes! I am quitting in October.
Detroit tried to pull some shit when they declared bankruptcy. Pension funds said sell all that artwork in your museums donated by the Ford, Dodge etc. families.
Sure enough they "found" other revenue sources.
What players are running for "Retiree" pension board rep?
That "J Ro" SCAMMER only worked 3 years (working in 012) before she scammed a duty disability 75% pension.
Anonymous Anonymous said...
I used to belong to Police Pension Accountability Group. I foolishly gave Giambalvo money. During the last pension board election it came out moved to Las Vegas. The Pension Board made her see a Dr. once a year while she was on disability. She moved back to Illinois and filed bankruptcy. And she wants to manage our pension fund?
When I asked her how much money she collected for the “Audit” and how much she paid for it “RO GIA” blocked me from the Facebook web site and refused to answer my emails. But yesterday I found an email, from her, asking me to fund her campaign flyer!
Before you vote her on the pension board ask her some questions:
How did you get hired when you were over 40 when the max age to get hired was 35?
Not counting the probation year and the year you were on the medical, how many months did you work a beat car before you had your slip and fall?
Are you not closer to 80 years of age than 70?
Like a failed politician who lives off of the campaign money of lost elections, think twice or six times before you give her money for another futile attempt again at getting elected!
8/04/2024 08:01:00 AM
$$$$$$$$$$$$$$$$$$$$$$$$$$$
I also got an email asking for money about two weeks ago. The problem is I was never part of her accountability group. When I moved to Orlando, I got a new bank down here. I got a new, separate email address that I have only given to the bank, the pension fund, my credit cards, and utilities. Yet she got it somewhere. I called the pension fund and they said that they did not give it out. The last ttime I was up in Chicago I ran into Greg Bella who said she was bad news. She put Catanzara’s personal data on line. FOP called out one of her lackey’s that was on the pension fund for being a ghost pay roller. They said they would call the IG’s office if he didn’t show up. He put in his retirement papers the next day. So put two and two together how she got the email addresses. I have seen copies of her bankruptcies down here in Florida at the Cop Shop the last time she ran. Give her no money and don’t vote for her.
Would you put Bernie Madoff in charge of the US Treasury Department??
And we will get more of this purposeful mismanagement until the country collapses. Democrats aren’t worried about being voted out of office, they got that covered too, they steal key elections to keep their plan chugging along. Do you really believe Al Franken won senator of Minnesota legitimately? He was installed to push through Obamacare. Brandon got 81 million votes in 2020…… right.
Leonard Cohen was right, “everybody knows the fight was fixed, the poor stay poor, the rich get rich, that’s how it goes, everybody knows.”
Retirees will be armed and dangerous if we aren’t paid.
Even though I had months to go before I retired I made sure I got one of those new vests they were handing out.
Someone asked why I wanted one and I said I’ll need it when I have to start knocking over banks when my pension dries up.
Of course I was kidding.
this only makes sense SCC.........remember just before covid hit, the city was in the red and were gearing up for layoffs. the unions had the lists of who was going just before Christmas. the website for city jobs was empty, all things were bleak to say the least.
Don't worry. According to the media, Kamala is brilliant and will fix everything.
Conehead and Tiffany "Dolton mayor" have a few things in common, and its not intelligence.
I guess by me not shopping anywhere in the city ever since mayor Daley has made a dent. at least I like to think so....
“ Anonymous said...
LOLsomething big is coming. Warren Buffet sold off all of his APPLE stock, that’s 400 million shares. Many billionaires are offloading stocks. Who’s buying you ask? Well… here’s the answer to that question, PENSION FUNDS. Dont know if this is a set up or what but our fund will go bust if the market tanks.
8/04/2024 12:12:00 AM”
The goal of the ruling class has always been to break the pension funds. They install politician puppets to facilitate the process.
The CEO’s and big money guys have been selling into pension funds consistently, turning their stock and options into millions/billions while pension funds hold the bag.
And it isn’t a question of “if” the markets “go bust” but when? The markets take the stairs up and elevator down, and the elevator door opened over the last 2-3 weeks and it’s going to descend rapidly. The rotation game of moving capital from asset classes isn’t going to continue to prop it up either. The Nasdaq led the markets higher, specifically 1-2 stocks out of the “Magnificent Seven” and its those same stocks that will lead it down. Did you all notice that those 7 stocks recently reported earnings over the last week and they were unable to move markets higher? That’s a tell.
Interest rate cuts May or may not come in September, but understand that when “jerry and his clan” over at the Fed cut, it’s not because the economy is doing well. Rate cuts that occur after the rate increases that took place over the last 2-3 years always lead to a market collapse. You know why? Because businesses are going bankrupt and when that happens people lose jobs. Unemployment is now at 4.3%, an increase of .2% that was just reported last week.
Watch the banking sector. More banks are going to fail. The stock market cannot and will not continue to increase if the financial sector is blowing up. That sector is another tell of future economic events.
If you’ve earned 5, 10, 20 x returns over the last few years be very careful. Don’t be a hog.
One last thing. Bankrupt the pension of active and retired cops and see what happens. Law enforcement as a career won’t exist.
FAFO
“Anonymous said...
Why am I not surprised. Between conehead, Groot, tutu, and 9.5, the city’s been sliding into bankruptcy home plate for a long time.
Prayers they find a way to pay our LEO heroes and their pensions. 🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
8/04/2024 01:06:00 AM”
Daley began the destruction process of the pension fund. Don’t neglect his role in it.
“Anonymous Anonymous said...
Pension direct deposits come from Northern Trust. https://www.northerntrust.com/united-states/home
8/04/2024 02:01:00 AM”
And your point is?
Where do you think Northern Trust gets the money to pay retirees?
8/04/2024 08:01:00 AM
Giambalvo was probably hired as a result of this lawsuit, filed in the 1970s, settled in the 1980s. I don't recall the specific details.
There was a lawsuit filed against the CPD by a group of females who applied for employment in the 1970s and were passed over. In the 1980s they won their lawsuit and were hired. They were also credited with pay and seniority back to the date of their original application to CPD. In the mid 1990s, we had a female officer who was very old working as the commander's secretary. She looked as if she had 30+ years on, she only had maybe 10 years on. But, she had very high seniority and retired with full pension credit which at the time was 32 yrs and a day.
“Anonymous said...
Can verify the overall financial picture is grim. CPD, and a bunch of other Departments, has become addicted to using OT to maintain operations to the tune of hundreds of millions in cost over runs. With the days off cancelled palooza for August, we’re looking at tens of millions of dollars that don’t exist going into OT instead of the pensions. Deferred comp all day long is the way to go
8/04/2024 05:35:00 AM”
And verify how? Who are you to verify? What are your credentials?
The department isn’t “addicted” to OT. The department is FORCED to demand its officers work OT. You know why? Because the con-artists and criminals that have sat in the Mayors office and City Council have purposefully allowed staffing levels to fall to levels that require OT be worked or else there wouldn’t be enough coverage (and even with OT there isn’t), of police in the city and events.
But, since you can verify the financial shitstorm I’m sure you already know this.
Don’t sell half truths.
Anonymous said...
Not gonna lie, i had high hopes for the gym teacher/supintendant but what a joke this has become. Homicides, car jackings, rapes dont matter, all this idiot cares about is cargo pants and bdus. Wow!! We are screwed, and this idiot is cancellling all are days offs too.
8/04/2024 01:22:00 AM
High hopes!?!?!? Are you f&@king kidding me? You're retarded!
End Gold Braid pensions for CPD.
Last rank should be Lieutenants. Captain and above are political appointments .
Mayor Brandon Johnson is providing $30,000,000 a month to the illegals in his sanctuary city.
Some people here are confusing pensions with payroll...The two are entirely different, and for good reason.
If the city does get broke from time to time, and can't meet its obligations, that shouldn't affect pensions. Payroll and OT could potentially be affected...
So he could buy stock in an electric car company made/based in China.
-----------
LOLsomething big is coming. Warren Buffet sold off all of his APPLE stock, that’s 400 million shares. Many billionaires are offloading stocks. Who’s buying you ask?
Read through a number of comments above. My only note would be that most of the comments reference "democrat" or "democrat party". The democrat party is dead and has been for awhile. These are communists or if you want to be kind, socialists. Your fathers democrat party is a thing of the past. RIP.
Then you have pos like these morons that want more of it:
https://chicago.suntimes.com/elections/2024/08/04/republicans-kamala-harris-launches-illinois-gopers-edgar-lahood-kinzinger-walsh-politicians-endorsement
Anonymous Anonymous said...
Can verify the overall financial picture is grim. CPD, and a bunch of other Departments, has become addicted to using OT to maintain operations to the tune of hundreds of millions in cost over runs. With the days off cancelled palooza for August, we’re looking at tens of millions of dollars that don’t exist going into OT instead of the pensions. Deferred comp all day long is the way to go
8/04/2024 05:35:00 AM
But the OT is not pensionable so there is no increased pension cost to the city for forcing current employees to accept cancelled days off. If the city were to hire additional employees, the city then becomes liable for additional pension payments for each of the new employees. We are getting screwed by the city and FOP remains silent.
It isn't mismanagement of funds...
Brandon and his minions are stealing city funds..
Bill DeBlasio and his wife stole 900 million dollars and when DeBlasio got asked about it by the news media he accused them of racism..
As of now BRK sold half its stake in Apple. He may cash in and sell the rest who knows. Remember when he sells someone is buying. I work the Apple Store security and place is always packed with a line out door at open. Apple will be a ten trillion dollar company in few years. Same with rest of the big tech firms. Tech is here to stay and I don’t see anyone putting their phones or tablets down anytime soon.
Have SCC readers ever tried to do privacy protected meet ups in the real world?
It sucks that we all have to lead our lives like we are “ Gays” in the 1950s. But, they s the way it is.
Gays including the head of the FBI used to meet in secret in the 1950s, most survived .
Early Christians in Rome and elsewhere had to meet in secret.
Maybe it s time we do the same.
I m tired of just typing on my Apple Pad and smartphone and sharing true life horrible scenes of Chicago murder and mayhem and BLM Dems letting everyone except the Big Guko guy go.
Anyone want to meet?
Sounds like he handles the City of Chicago accounts much like his personal finances.
Anonymous said...
I call total BS! However, the mismanagement of money by this idiot mayor is definitely possible but pensions and payrolls will always be paid.
8/04/2024 08:31:00 AM
UHhhmmmmm....What exactly do you base that confidence on???
Anonymous Anonymous said...
I call total BS! However, the mismanagement of money by this idiot mayor is definitely possible but pensions and payrolls will always be paid.
8/04/2024 08:31:00 AM
That's what they thought in Detroit. Chicago is in better shape then Detroit but as they say, never say never.
https://www.usatoday.com/story/news/nation/2014/04/15/detroit-bankruptcy-pensions/7728569/
8/04/2024 08:01:00 AM There was no age restriction when she was hired. That didn't come about until well into the 2000's
I remember from the Blog a few years back comments regarding Anne Kirkpatrick. She is now head of the New Orleans Police Department and on Saturday hit two people in the French Quarter with a department vehicle. One was hospitalized and the other is claiming no injuries. She was not in uniform at the time.
“Anonymous Anonymous said...
Retired in Texas……
Yet this POS-bone head mayor will be at the convention showing his teeth grinning from ear to ear of his triangle shaped head. Hob-knobbing for a future spot in k a m a l a ‘s administration because he knows he’s a one term mayor.
Then again, it’s Chicago…..“
Hob-knobbing or Random Brandon slobbing someone’s knob in an attempt to get a Federal job?
Venezuelans robbing lollapalooza goers all afternoon and night. Will the mayor make a statement?
Just another excuse to raise property taxes,and blame the police and their pension fund,and like the past years collect the money and use it for something else!
Just another excuse to raise property taxes,and blame the police and their pension fund,and like the past years collect the money and use it for something else!
What about the earlier fuckup they had with sending bills for retroactive interest to tier 2 coppers and the FOP not doing anything? The city and the FOP are both fucking coppers.
Anonymous Anonymous said...
I used to belong to Police Pension Accountability Group. I foolishly gave Giambalvo money. During the last pension board election it came out moved to Las Vegas. The Pension Board made her see a Dr. once a year while she was on disability. She moved back to Illinois and filed bankruptcy. And she wants to manage our pension fund?
When I asked her how much money she collected for the “Audit” and how much she paid for it “RO GIA” blocked me from the Facebook web site and refused to answer my emails. But yesterday I found an email, from her, asking me to fund her campaign flyer!
Before you vote her on the pension board ask her some questions:
How did you get hired when you were over 40 when the max age to get hired was 35?
Not counting the probation year and the year you were on the medical, how many months did you work a beat car before you had your slip and fall?
Are you not closer to 80 years of age than 70?
Like a failed politician who lives off of the campaign money of lost elections, think twice or six times before you give her money for another futile attempt again at getting elected!
8/04/2024 08:01:00 AM
=====================
The question is how much money did she put into the fund and how much has she taken out. She is the LAST person I want near our money.
Anonymous said...
I used to belong to Police Pension Accountability Group. I foolishly gave Giambalvo money. During the last pension board election it came out moved to Las Vegas. The Pension Board made her see a Dr. once a year while she was on disability. She moved back to Illinois and filed bankruptcy. And she wants to manage our pension fund?
When I asked her how much money she collected for the “Audit” and how much she paid for it “RO GIA” blocked me from the Facebook web site and refused to answer my emails. But yesterday I found an email, from her, asking me to fund her campaign flyer!
How did you get hired when you were over 40 when the max age to get hired was 35? She Sued..
++++++
Yea she's close to 80. My wife used to baby sit for her kids.
How did you think it would end? Useless, incompetent Southside Irish liberals ran it into the ground. Black Marxists will officially bury it. Let it burn. You'll learn to never mention you were from Chicago or ex-CPD. They'll laugh in your face. As they should.
https://m.youtube.com/watch?v=ZRE9mGfGDVg
Even Stevie Wonder can see Chicago is broken.
That was awesome, those guys are good, had me laughing my AO.
Federal taxes went up 133 a check for the last cycle. Fucking Biden.
Maybe BJ can use his campaign fund to make our pension payment like he did for his water bill.
Anonymous said...
Anonymous Anonymous said...
I used to belong to Police Pension Accountability Group. I foolishly gave Giambalvo money. During the last pension board election it came out moved to Las Vegas. The Pension Board made her see a Dr. once a year while she was on disability. She moved back to Illinois and filed bankruptcy. And she wants to manage our pension fund?
When I asked her how much money she collected for the “Audit” and how much she paid for it “RO GIA” blocked me from the Facebook web site and refused to answer my emails. But yesterday I found an email, from her, asking me to fund her campaign flyer!
Before you vote her on the pension board ask her some questions:
How did you get hired when you were over 40 when the max age to get hired was 35?
Not counting the probation year and the year you were on the medical, how many months did you work a beat car before you had your slip and fall?
Are you not closer to 80 years of age than 70?
Like a failed politician who lives off of the campaign money of lost elections, think twice or six times before you give her money for another futile attempt again at getting elected!
8/04/2024 08:01:00 AM
$$$$$$$$$$$$$$$$$$$$$$$$$$$
I also got an email asking for money about two weeks ago. The problem is I was never part of her accountability group. When I moved to Orlando, I got a new bank down here. I got a new, separate email address that I have only given to the bank, the pension fund, my credit cards, and utilities. Yet she got it somewhere. I called the pension fund and they said that they did not give it out. The last ttime I was up in Chicago I ran into Greg Bella who said she was bad news. She put Catanzara’s personal data on line. FOP called out one of her lackey’s that was on the pension fund for being a ghost pay roller. They said they would call the IG’s office if he didn’t show up. He put in his retirement papers the next day. So put two and two together how she got the email addresses. I have seen copies of her bankruptcies down here in Florida at the Cop Shop the last time she ran. Give her no money and don’t vote for her.
Would you put Bernie Madoff in charge of the US Treasury Department??
8/04/2024 10:12:00 AM
Greg Bella you take what he says as truth! This is the same guy who pushed CR numbers on coppers for his body the FOP representative not gonna name him, not even worth it, but that is the guy that pushed it. Greg Bella helped his body to get a CR on a copper for some bullshit I don’t know how many more he did that to.
This comment has been removed by the author.
If you think they're going to pay a bunch of old white retirees instead of themselves, guess again.
8/04/2024 12:18:00 AM
It is not easy for a city to file for bankruptcy. Too much more involved. They can sell bonds, raise taxes are a few ways. It will be avoided at all costs because if you declare bankruptcy, all new investments would stop, no where to get investors
The 2023 audit was released in June and is viewable on the PABF website ("Fund Reports"). As a retired Chicago Police Officer, I urge all active and retired Members to at least read it. Basically, there are a few features I don't like, but the dam isn't about to burst either. And as far as Pension Board elections are concerned, I am happy to see all the comments pro and (mostly) con about candidates. That means interest in this process is increasing. We need to boost the abysmally low turnout rate every four years. Also, for what it is worth, I agree with the mostly negative comments about one candidate in particular--but the Board should have addressed the issue a lot more intelligently than it did to begin with. Hopefully, we have all learned a lesson from this. The Fund belongs to all of us, we have fought to keep it, and need to continue this fight in the future. Thank you.
If the were serious about reforming our pension then you would not have retired exempts making $ 199,000 a year. It would be capped at Sgt’s pay. Somehow they have money for these people.
The city of Chicago CANNOT declare bankruptcy. Municipalities in Illinois cannot via statute. The city is far from broke. Don’t listen to this nonsense.
Does this affects officers like me who suffered life altering injuries and had no choice but to go on disability?
Anonymous Anonymous said...
How did you think it would end? Useless, incompetent Southside Irish liberals ran it into the ground. Black Marxists will officially bury it. Let it burn. You'll learn to never mention you were from Chicago or ex-CPD. They'll laugh in your face. As they should.
8/04/2024 04:17:00 PM
💯 💯💯
AND....I hear they disbanded the PTA!!
SNAFU...
Greg Bella you take what he says as truth! This is the same guy who pushed CR numbers on coppers for his body the FOP representative not gonna name him, not even worth it, but that is the guy that pushed it. Greg Bella helped his body to get a CR on a copper for some bullshit I don’t know how many more he did that to.
8/04/2024 04:43:00 PM
Greg has always been a straight shooter and a good Cop. I worked on the same watch in the early 90's with him. He, and his partner Frank Saenz were great cops and taught a lot to us young officers. I was working the night he and his partner were fighting with a man with a gun who tried dumping a body. He was always there for backup and never blew off a job. He puts Police Officers first.
Anonymous said..
Would you put Bernie Madoff in charge of the US Treasury Department??
O W Wilson said...
Yea she's close to 80. My wife used to baby sit for her kids.
____________________
The above are two the best posts in a while. OW Wilson? really?
If your on Facebook she has her Jim Jones cult posting non sense. She's the biggest scam artist there is.
Would you let Hunter Biden run the DEA? She'll do to the pension fund what the mayor of Dalton is doing the that city. Let that woman nowhere near OUR money. She will have a thousand coppers on PTSD disability pensions after the DNC.
SHE worked four years and has taken over 30 years of money out.
Sorry OW Wilson your wife baby sat her grand kids. My wife baby sat her kids. She older than Biden. She sued to get on as a senior citizen.
Her biggest mistake was not just taking the money and run. She posted J-Cat's personal info on line. She will be the topic of several Friday night videos I'm sure.
As the father of modern policing I always wanted police standards to be higher. She was way to OLD to be the Po Po! She was weighed and measured and found to be lacking.
Come on! Hit da medical , to heck wit dem!!
In the mid 1990s, we had a female officer who was very old working as the commander's secretary. She looked as if she had 30+ years on, she only had maybe 10 years on. But, she had very high seniority and retired with full pension credit which at the time was 32 yrs and a day.
8/04/2024 11:36:00 AM
There was an old guy that went through the academy in the mid 90’s, he was over 60 years old then and independently wealthy, on a whim he wanted to be the police. He graduated and hit the streets to only work a short period of time, I think it was one month, before he had to retire as he reached mandatory retirement age.
"Anonymous said...
Incompetence as usual. In 1,000 years people will be looking at Chicago from the bottom of the lake. Like a lost city that was abandoned and fell into the lake.
8/04/2024 06:29:00 AM"
It's this kind of thinking that continues to perpetuate the spiral.
What is going on is ANYTHING BUT INCOMPETENCE. The people "installed" at the political levels may in fact be incompetent, but THEY AREN'T THE ONES CALLING THE SHOTS, (sorry for yelling, but this is important).
You think Brandon Johnson or Lori Littlefeet, or the Tiny Dancer REALLY CALLED THE SHOTS? Fuck no they didn't. Even the king himself, Daley was a water carrier. They carried out the orders of those who installed and control them. AND THAT IS ANYTHING BUT INCOMPETENCE AT WORK.
What you are witnessing is the systematic deconstruction of the financial system. You and your pension and deferred compensation will be collateral damage, and those in charge couldn't give two flying fucks about you.
Who is deconstructing it?
The same people who implemented it.
"Anonymous said...
If my pension check stops coming I promise that you WILL be seeing me on the news. National news.
8/04/2024 08:57:00 AM"
Another member of the Fuck Around and Find Out crew!
We will never have to worry about the City claiming bankruptcy.. The City would have to go through a forensic audit which they will never do. Then all the little side projects would get exposed. They would never let that happen.
Not really defending the pension fund but it’s hard to get decent returns because they are limited to what and how much they can invest in each category. It’s to protect the fund and because they have to pay out monthly pensions it’s hard to recoup their losses when the market is down. Hard for the fund to keep paying out while they are waiting for the recovery
"Anonymous said...
It isn't mismanagement of funds...
Brandon and his minions are stealing city funds..
Bill DeBlasio and his wife stole 900 million dollars and when DeBlasio got asked about it by the news media he accused them of racism..
8/04/2024 01:04:00 PM"
And William Wilhelm is an avowed communist and of the ruling class.
I call bs. City would have to sell all assets and open up TIF books. Not gonna happen.
Your cup of coffee stayed hotter longer than giambivilo worked a beat car
?? Doesn't the pension board pay out pensions, not the city?
I'm reading into it as the city is in a temporary financial predicament. No available funds in the coffers until some expected revenue streams fill up again...I don't think the city is ready to go into bankruptcy court just yet.
Just like Detroit that is going to take a few decades...When the city start borrowing money for short term loans we are really in trouble...
Problem-Reaction-Solution..."then I'll get on my knees and Pray....we don't get fooled again"!
"Anonymous said...
Not really defending the pension fund but it’s hard to get decent returns because they are limited to what and how much they can invest in each category. It’s to protect the fund and because they have to pay out monthly pensions it’s hard to recoup their losses when the market is down. Hard for the fund to keep paying out while they are waiting for the recovery
8/04/2024 09:02:00 PM"
Waiting for the recovery? Which recovery are you referring to?
2008?
2020?
The market has long since recovered and went higher. In fact, the market has been a "buy every dip" market for the last 3-4 years and at times have been parabolic in the upward direction.
Brandon is only worried about Richard Nixon doing these mass drive by shootings!!! Dude is a COMPLETE CLOWN 🤡
How deferred will our Deferred Compensation go if the city can’t pay bills?
Madison, Burke and Daley are all collecting pensions and we will too!
That person that everyone is talking about is very litigious. Ask the owner of the original blog.
"It's so fun be an illegal alien"
@TaraBull808
An illegaI migrant from Venezuela left her receipt at the grocery store, so the cashier took a photo..
EBT Food Stamp balance: $13,401.82
EBT Cash balance: $4,498.85
Yet millions of Americans can't afford groceries, gas, & rent.
https://x.com/TaraBull808/status/1819365033207324797?t=GXepwijCpLpbeROEcpMsZQ&s=19
"""Like a failed politician who lives off of the campaign money of lost elections, think twice or six times before you give her money for another futile attempt again at getting elected!"""
I'm the unit Rep for my District. Wayne Metcalf was elected to the pension board with Ro Gia's support. Wayne came to FOP meetings when he first got elected. J-Cat let him answer questions at the end of the meetings for a few months. When pressed he said he had found no waste or mismanagement. He also said the management fees were industry norms. Metcalf stopped coming to FOP meetings. He was on the board when the City miscalculated the pension payment on the retro checks for the younger guy's on my watch. He abruptly retired when FOP found out he was not showing up for work. Ro's report was all smoke and mirrors with nothing tangible being found in the end. I'd be very carefully about giving her money. Just saying
Greg has always been a straight shooter and a good Cop. I worked on the same watch in the early 90's with him. He, and his partner Frank Saenz were great cops and taught a lot to us young officers. I was working the night he and his partner were fighting with a man with a gun who tried dumping a body. He was always there for backup and never blew off a job. He puts Police Officers first.
8/04/2024 07:48:00 PM
Love,
Greg Bella
Ha ha ha. Says the wannabe gangster! This guy is a bad politician.
I believe it's time to contribute more to our pension? 16% would be fare so younger guys have a pension in future
How can the city possibly be broke? I remember watching Conehead standing at the podium saying "Chicago has enough for EVERYBODY!" (or words to that effect). Is it possible he lied? Or maybe he didn't know what the hell he was saying? Say it isn't so! Jerkwad.
How deferred will our Deferred Compensation go if the city can’t pay bills?
Deferred is done by Nationwide
The market has long since recovered and went higher. In fact, the market has been a "buy every dip" market for the last 3-4 years and at times have been parabolic in the upward direction.
Not as easy as you say. But at every dip. What if they bought last Thursday or Friday? They would be hemorrhaging today. Lot more issues involved. Just buy on the dips, where does that money come from, does the pension board have that money laying around no. Recoveries don’t occur overnight. Takes years usually and during that time the pension is paying out to the pensioners, diminishing the purchasing power. Not to add with CPD being understaffed less officers are paying in and when they start paying it’s less because it takes 5 years of seniority to get the contributions up
No one can time the dips and if you buy at every dip you will end up buying at its lowest. Be there done that
8/04/2024 10:57:00 PM
Both one was 16 years ago one 4. Might have been one in 2012
Buy at every dip. We are having problems meeting the pension payroll and you think there are funds to buy more stock
Anonymous Anonymous said...
In the mid 1990s, we had a female officer who was very old working as the commander's secretary. She looked as if she had 30+ years on, she only had maybe 10 years on. But, she had very high seniority and retired with full pension credit which at the time was 32 yrs and a day.
8/04/2024 11:36:00 AM
There was an old guy that went through the academy in the mid 90’s, he was over 60 years old then and independently wealthy, on a whim he wanted to be the police. He graduated and hit the streets to only work a short period of time, I think it was one month, before he had to retire as he reached mandatory retirement age.
8/04/2024 08:36:00 PM
Pat Halperin came to 013 in the mid 1990’s and was over 60 YOA. An interesting character with a diverse background that included work as an arbitrator. They (Piggott) put him on tact and you could always count on something wild happening when he was out there-his gun was defective in that he had a few unintended discharges….
Fake Mayor Commie conehead is spending $1.8B covid money like end of the world.. before deadlines shut the money off at end of year
Some of the spending includes $64 million to guaranteed income in direct cash assistance to households, $23 million to violence interruption, and $20 million for mental health services. That includes reopening three clinics that had been closed under prior administration ......$11 for artists $32 to homeless .. wasted crap Now in Oct conehead has $600M budget deficit for 2025-26..
There was an old guy that went through the academy in the mid 90’s, he was over 60 years old then and independently wealthy, on a whim he wanted to be the police. He graduated and hit the streets to only work a short period of time, I think it was one month, before he had to retire as he reached mandatory retirement age.
I Do not think the mandatory retirement age was implemented until 2001 or 2002. I could be wrong, but not 100 percent sure.
Anonymous said...
How deferred will our Deferred Compensation go if the city can’t pay bills?
8/04/2024 11:11:00 PM
"There ain't no draft no more, son."
"There was one?"
Anonymous Anonymous said...
I believe it's time to contribute more to our pension? 16% would be fare so younger guys have a pension in future
8/05/2024 06:55:00 AM
You should have suggested that when you came on. Maybe we wouldn’t be in this position
Chicago budget gap could reach $1.9 billion by 2026
https://www.nbcchicago.com/news/local/worst-case-scenario-chicago-budget-gap-could-reach-1-9-billion-by-2026/3228641/
Waiting for the recovery? Which recovery are you referring to?
2008?
2020?
The market has long since recovered and went higher. In fact, the market has been a "buy every dip" market for the last 3-4 years and at times have been parabolic in the upward direction.
Seems like it corrected the last few days. Hope the pension has a lot of money around to invest because the market is cheap
Ken Hauser says everything is fine. 🤡.
Anonymous Anonymous said...
I believe it's time to contribute more to our pension? 16% would be fare so younger guys have a pension in future
8/05/2024 06:55:00 AM
Moron. Three generations-if I’m included-of my never merit family did just fine with the present system. The failure of the city to pay, or increase its contributions into the police pension fund, followed by the early retirement scam, have resulted in the reduced funding ratios. Oh, and don’t let me get started on the goofs who are putting $75.00 per paycheck into their 2 3/8% fixed rate deferred account! Hahaha! Oh oh! Got to leave. Sothebys is about to start another auction of 19th century American paintings! See you there if you have anything left from your paycheck after the 16% pension contribution. Gosh, I need more wall space for this painting.
Detroit's bankruptcy in 2014 led to several changes to its pension plans, including:
Freezing: Both existing pension plans were frozen, preventing new benefits from being accrued and new employees from joining
Benefit cuts: The General Retirement System (GRS) plan had a 4.5% base cut and the elimination of cost-of-living adjustments (COLAs). The Police and Firefighter Retirement System (PFRS) plan had COLAs reduced from 2.25% to 1%. However, PFRS beneficiaries may have avoided larger cuts because police and fire employees don't usually participate in Social Security
New plans: The city created two new plans to cover current and future workers
Governance: New structures were established to oversee the pensions
Pension holiday: The city was given a 10-year break from payments to the pension plans, known as the "pension holiday"
This is a garbage rumor. The City is not broke. The City will never claim bankruptcy because then they would have to have a forensic audit, which will never happen. And for you people bringing up Detroit? It’s a simple google search. The only think that the Police and Fire Pensions lost, Was part of their Cola. Payments were not de creased.
The only thing the Democrats support, our pensions and retirement.
"Seems like it corrected the last few days. Hope the pension has a lot of money around to invest because the market is cheap
8/05/2024 05:12:00 PM"
The market is anything but cheap. This little selloff on the Yen carry trade is just a prelude to what is coming down the road. This was/is childrens play LOL!
The NQ is heading for 12k "down the road"
Anonymous said...
?? Doesn't the pension board pay out pensions, not the city?
8/04/2024 10:19:00 PM
Yes. But many here are guided by limited information, and unable to make separate the pension, and the payroll and OT budget which is tied directly to the city coffers.
Anonymous Anonymous said...
In the mid 1990s, we had a female officer who was very old working as the commander's secretary. She looked as if she had 30+ years on, she only had maybe 10 years on. But, she had very high seniority and retired with full pension credit which at the time was 32 yrs and a day.
8/04/2024 11:36:00 AM
There was a lawsuit settled in the late 80s/early 90s that gave back pay and seniority to a group who weren't hired when they applied. Might have been all female but I'm not positive on that.
Anonymous Anonymous said...
How deferred will our Deferred Compensation go if the city can’t pay bills?
8/04/2024 11:11:00 PM
The City can't touch the money in Deferred Comp. Anybody that tells you otherwise is full of it.
Don't know where people got this horseshit idea. The city has nothing to do with deferred comp. That money is taken out of your check and deposited with an organization that has NOTHING to do with the city. Take a few minutes to learn how things work, for your own good.
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