Tuesday, August 28, 2018
Continuation of Possible Consolidation (Shared Services) La Salle and Peru Only
http://www.newstrib.com/free/la-salle-stays-on-board-with-shared-policing-study/article_ae0933b4-aac6-11e8-8f7e-37a3906edf2b.html
Is this happening because of poor fiscal management regarding the pensions of retired police officers?
Will this really solve the issue or just create new ones?
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2 comments:
for year under prior administrations the funds were not funded properly. the 2 current mayors and councils inherited a mess and are trying to figure out how to fix this.
a nervous retiree
State Laws give retirees 3% increase every year, the majority of the pension funds are not permitted to be invested in anything but CDS and checking accounts. Pension programs allow for participants to get significant pensions for 20 years of service. Pension Boards invest and operate the pension programs, not your local dopes from city hall. The typical pension board makeup has the local nice guy, the banker that has the funds and current and retired pension employees that receive the pension. They also make determinations on disability claims. You add up the numbers and keep voting for that Springfield representative that wants to protect the taxpayer and claim they are for the working man. Do you believe anything in Springfield will change the laws and give taxpayers relief? Mike Madigan and JB? No chance.
The liabilities will become greater for all cities. I was surprised and gutsy that some local Peru and LaSalle city council members want to attack the Pension problem by consolidation. Give them some applause and support. They didn't create the problem but are looking for a solution.
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