chicagocitywire.com/stories/511130434-projection-chicago-s-police-pension-fund-will-be-broke-in-2021
Projection: Chicago's police pension fund will be broke in 2021
chicagocitywire.com
Without a taxpayer bailout, Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
www.wsj.com/articles/two-state-solution-to-pension-underfunding-1497904791
Two-State Solution to Pension Underfunding?
wsj.com
In 2010 Illinois was one of the first states to drastically reduce future pension benefits for new teachers and public workers to cut costs.
Share this post to your timeline. Non police need to see it too.
chicago.suntimes.com/opinion/police-pension-not-to-blame-for-property-tax-increase/
Police pensions not to blame for property-tax increase
chicago.suntimes.com
LETTERS: Quit blaming the cost of police pensions, instead of the shabby business practices of the city and state, for property-tax increase.
FirstResponderPensionFacts shared Illinois Police Benevolent & Protective Association (PBPA)'s post.
Illinois Police Benevolent & Protective Association (PBPA)
Early this morning PBLC staff responded to an officer involved shooting. One of our members was shot multiple times and was airlifted to St. Louis for medical care. An emergency fund if being set up this morning to assist the officer and his family. Please check back for further details as the day develops. The offender was killed in the exchange.
This looks like shots fired
www.taxpayersunitedofamerica.org/latest/chicago-police-pensions-worth-three-times-social-security...
taxpayersunitedofamerica.org
View release as a PDF CHICAGO--The average Chicago police pension is worth three times that of Social Security and police can retire with six years less work, according to research by Taxpayers United of America (TUA). “The maximum Social Security pension is $22,000 at age 62, with a minimum of 35 y...
www.illinoispolicy.org/moodys-downgrades-illinois-to-1-notch-above-junk-warns-state-pension-liabi...
Illinois owes over $250 billion in pension debt
illin.is
Moody’s Investors Service cited Illinois’ $250 billion in pension debt and the lengthy budget impasse as reasons for its one-notch credit downgrade.
teacherpoetmusicianglenbrown.blogspot.com/2017/06/keep-demanding-repeal-of-government.html
teacherpoetmusicianglenbrown.blogspot.com
“ New Senate bill needs our support! “You may be wondering, with all the ongoing upheavals that are changing the nature of...
capitolfax.com/2017/06/06/no-decision-yet-on-whether-medicaid-bills-must-be-paid-first/
capitolfax.com
A court hearing scheduled for Tuesday has the potential to shake up Illinois’ already-precarious financial situation. Organizations that run the state’s Medicaid program are asking a judge to speed up their payments.
FirstResponderPensionFacts shared We Are One Illinois's post.
Dial 888-412-6570 to tell your state rep: Vote NO on any bill to cut the pensions of teachers and other public employees. You can leave a message anytime throughout the weekend. Please SHARE! www.weareoneillinois.org/news/make-the-call-to-stop-pension-cuts
www.chicagobusiness.com/article/20170506/ISSUE11/170509863?X-IgnoreUserAgent=1
Illinois' pension failure has many fathers
chicagobusiness.com
Ever since former Gov. Jim Edgar started criticizing current Gov. Bruce Rauner, he has been subjected to a steady drumbeat of criticism from the far right. Is it justified?
www.tallahassee.com/story/opinion/2017/04/26/letter-changing-frs-pension-401k-too-risky/100945186/
Letter: Changing FRS pension to 401(k) too risky
tallahassee.com
As a member of the Northwest Florida AFSCME Retirees, I urge members of the Senate Governmental Oversight and Accountability Committee to kill proposed bill SPB 7030 which would move new state hires into the risky 401(k) investment plan.
www.chicagotribune.com/business/sns-201704171833--tms--savagectnts-a20170417-20170417-column.html
Don't count on that government pension
chicagotribune.com
Millions of Americans are expecting to receive a pension from the city or state that employs them. Many will be in for a terrible surprise, according to the
An old article worth another look.
pando.com/2014/04/04/revealed-rahm-emanuel-cuts-public-pensions-diverts-money-to-benefit-campaign...
Revealed: Rahm Emanuel cuts public pensions, diverts money to benefit campaign donors
pando.com
If you've read the financial news out of Chicago the last few weeks, you've probably heard that the city faces a major pension shortfall, supposedly because police officers, firefighters, teachers and other public workers are selfishly bleeding the city dry.
www.governing.com/topics/mgmt/gov-john-arnold-pensions.html
John Arnold: The Most Hated Man in PensionLand
governing.com
The billionaire philanthropist has vowed to secure retirement for public employees. So why do so many public employees despise him?
chicago.suntimes.com/news/rahm-emanuel-email-takes-center-stage-in-retiree-health-care-case/
Rahm Emanuel email takes center stage in retiree health care case
chicago.suntimes.com
A private email written by Mayor Rahm Emanuel bragging about the now-completed, three-year phase-out of the retiree health care coverage is taking
www.bondbuyer.com/news/regionalnews/chicago-cfo-tries-to-calm-investors-after-pension-veto-112864...
Chicago CFO Tries to Calm Investors After Pension Veto
bondbuyer.com
Chicago expects the veto-proof passage in early April of an identical bill to the one vetoed Friday that saves its municipal and laborers pension funds from insolvency, the city s finance chief told investors Monday.
capitolfax.com/2017/03/24/durkin-says-he-has-26-votes-for-pension-reform-and-one-year-cps-funding/
capitolfax.com
* As I’ve already told you, Gov. Rauner is holding a press conference in Chicago today [ADDING: click here to follow it on ScribbleLive]. The governor is scheduled to talk about “Developments Regarding Illinois/CPS Pension Deal.”
capitolfax.com/2017/03/24/rauner-vetoes-chicago-pension-fund-bill/
Capitol Fax.com - Your Illinois News Radar » Rauner vetoes Chicago pension fund bill
capitolfax.com
In an effort to protect taxpayers, Governor Bruce Rauner today vetoed legislation that creates a five-year pension funding fiscal cliff for Chicago’s municipal and laborer pension funds that will lead to increased taxes for residents in the City of Chicago in 2023 and beyond.
FYI
From: Clint
Sent: Monday, March 20, 2017
Subject: Retiree Update
Just to keep you all up to date, we are completing our reply brief to the appellate court in the main case.
We have gotten a short extension because we want this reply to give us the best chance of prevailing on the merits in the appellate court.
It should be filed this week, and you’ll all certainly get a copy. I’ll let you know when the court schedules oral argument, and we hope many of you will attend.
In the meantime, we have been back to Judge Cohen on the audit and reconciliation. He has ordered the City to complete the 2013 audit by June 30,
and the city will audit and reconcile, giving the participants the best result, treating the last half of 2013 alone, or the whole year. We’ll see.
For the Korshak and Window retirees, the city will audit and reconcile permanently. For subsequent class 3 (hired by 8/23/1989) the charges will be audited, but reconciliation will await further developments in the case. For class 4 (hired post-8/23/1989) the city is ordered to preserve all records. We’re working on a final order, which should take a few more days. We’ll post that and the transcript, when they are available.
Finally, the circuit court recently ruled in the pension reform litigation that we are not entitled to a fee from the City, nor from the increased pension benefits we protected. While we are appealing that ruling, the possibility now rears its ugly head that we may be doing this without being able to recover any fee, even if we win. This poses a very big problem, as you can imagine. Without any current help from the unions, we are carrying this out of my pocket and the contributions from those of you who have graciously stepped up. We need your continued help. The City and the Funds trustees are expending limitless funds for their multiple teams of lawyers. We’re still fighting, but we need your help. We can continue through the appeal, but we may have to review this again at that time.
Your help now would be appreciated. Help from the unions would be nice. The firefighters union has never contributed a penny.
Feel free to email us any questions; we’ll answer them as soon as our brief is filed.
Clint Krislov
Krislov & Associates, Ltd.
Civic Opera Building, Suite 1300
20 North Wacker Drive
Chicago, Illinois 60606
Telephone: 312-606-0500
Facsimile: 312-739-1098
Website: www.krislovlaw.com
Email: clint@krislovlaw.com
krislovlaw.com
Krislov Law is a Chicago based law firm which advocates tirelessly for their clients in high stakes litigation on behalf of investors, consumers and taxpayers,and is dedicated to protecting consumer, investor and taxpayer rights in class action matters.
Give him nothing. Make him present a budget. www.dnainfo.com/chicago/20170316/altgeld-gardens/chicago-school-budget-rauner-rahm-illinois
Rauner Promises To Give CPS $215M — If State Lawmakers Change Pension Rules
www.dnainfo.com
A bill introduced by two Republican senators could be signed "within days," Gov. Bruce Rauner said.
