Express Yourself: Facebook | Twitter | YouTube | Thank You to Our Viewers

Friday, July 16, 2010

Naperville Could Take Pension Reform Crisis Direct to Taxpayers

While some are still in denial, most financial experts, objective observers and taxpayers have figured out the public pension systems in Illinois have been out of control for years and is one of the primary sources for the current fiscal crisis.

The failure to take on serious pension reform for existing employees is one of many irresponsible acts by the so-called leadership of Illinois, but Naperville was not kidding when they made pension reform their top and ONLY legislative priority this year.

For November's 2010 election, Naperville is considering adding an advisory referendum to ask voters if the Illinois General Assembly should reform the police and fire pension system.

"We have expressed in the past that the current pension issue is unsustainable and we want to make sure the public agrees the state needs to make the changes necessary to ensure the city can fund the pensions."
-Councilman Kenn Miller, Daily Herald

Police and fire pensions are just a few of many public pensions that are out of whack with fiscal reality and those who benefit from these pensions naturally want to see the guaranteed benefits continue, but at what point is enough enough?

From changes in cost of living adjustments, retirement age, increased employee contributions and decreased taxpayer contributions, there are many essential steps necessary.  Naperville's City Council believes putting the issue for voters will be an important reminder as they vote for other statewide offices who is serious and not serious about solving these problems.


Anonymous said...

The city of Aurora should take heed of this situation and follow suit. There is absolutely no need for the police and fire departments to promote all these people to the rank of captian or "chief" at the age of 48 or 50 only to have them retire at 53 with a much higher pay rate. For starters we will now have about another 25 to 35 years to pay for their retirement while getting no benefit from them. Only the retirees and their GREEDY UNION benefit from this situation. The public gets screwed. TO have 8 or 12 promotions in these departments every few years is totally shafting the taxpayer. They should all work til 68 or 70 just like the private sector now has to, and not be allowed to go to the city or county or township for additional retirement funds by double dipping.

retired cop said...

to 9:41am, tell me honestly do you really want a 70 year old cop chasing a guy you found brutally raping your wife in front of your childrens eyes or do you really want a 70 year old fireman trying to rescue your little baby from an inferno that used to be your house. wake up, when the economy was great you were making huge bucks sitting in a nice safe office while we were putting our asses on the line for you.

retired cop said...

still to 9:41
you could of taken the test but you were either to afraid of doing either job or there is somthing in your background that prevented you from getting the job. there is a reason we get to retire early, but i doubt you would understand. i'm just glad i am done dealing with morons like you.
to my brothers and sisters in blue stay safe and remember there is no citizrn out there worth losing your life over.

Anonymous said...

That last sentence is a good enough reason for you to stand in the bread line with the rest of us. It shows that you are not as special as you think you are.

Anonymous said...

Retired cop.. Your "the sky is falling" attitude is just what is used to scare the general public into beleiving we need all these useless promotions. Its just like the GREEDY TEACHERS UNIONS using the old "for the children" tactic to perpetuate their raises and retirement hikes. I say if you are overpaid or over pensioned you should be cut to the national average. Your remark about the "citizens" ( I think that is what you were trying to spell) reflects just what is wrong with our system. Obviously you weren't screened enough before hireing on.

Anonymous said...

TO the retired blathermouthed cop. I'l bet we could count the number of times you put your ass on the line for us on no hands. Unless it was to keep your superiors from chewing your ass out for someting stupid you did.

Anonymous said...

I just hope the mayor is not in any kind of trouble!

Anonymous said...

Sounds just like the good old boys system.

They promote a man to the rank of commander, then this same group selects a man to be deputy chief.All the while another man/woman, leaves on pension which the law says last day in rank for ever. then the man picked for deputy chief leaves but not at the Sergeants pay but the last day in rank of deputy chief.

All under the system of it's the best way to go for the chief to pick his own people under him.

Does everyone retired at the rank of sergeant or at the rank of commander it would seem the only thing missing is the system to bring up the patrolman to sergeant and then to lieutenant.

Wake up Yorkville and think about this new law, I m sure that Tom Cross, Senator Chris Lauzen and the group who monitors all pensions, have all ready received phone calls on this bill.

Look to the North and sell what happened to Aurora after they got rid of the captains rank, and you guys want to rid Yorkville of Lieutenant and Captain

Lump Sum Annuity said...

temporary annuity, a purchased life annuity is used to provide a known income over a fixed period of time or your lifetime. There are a number of options available and in the UK a purchased life annuity can include; immediate needs, impaired life, and joint life annuities. Please visit our life annuity and impaired life annuity pages for more information on the different types of purchased life annuity.
Lump Sum Annuity

Anonymous said...

4:33 What's the commission on these Anuities? Maybe I should sell them instead of buying them.

Anonymous said...

How about that city manager in Cal paying himself 800 thousand a year to manage a city of 30 thousand. Also paying his police chief 500 thousand. I beleive if I heard correctly that the manager had something like 25 million credited to his retirement fund already...don't think it can't happen in Illinois. The crooks just haven't found out how yet. I'll bet if we gave the problem to the likes of Stroger he could find a way.