Policemen’s pension fund

What is the situation with the city policemen’s pension fund?

As of January 1, 2016 it had an unfunded liability of $179.9 million.

As of January 1, 2018 the unfunded liability had risen to $233.9 million.

This is sad.

We deserve better

Brutus

10 Responses to Policemen’s pension fund

  1. Al Monotonous says:

    Maybe they can just give the retired police a Free Trolley ride and a season pass to the ballpark ?
    So, by this rate: 2020 = $350 million liability.
    2022 = $500 million / 1/2 Billion liability.
    2030 = 1 Billion liability.

    Like

  2. Anonymous says:

    What politicians will agree to in order to get votes at the expense of taxpayers. Taxpayers should form a union and demand a pension plan from the city.

    This is one example of how public unions are a cancer on society. Public schools are worse.

    Like

    • Counterpoint says:

      Unions are not a cancer. Corrupt, greedy politicians, city managers and school superintendents are cancers.

      Like

    • Dan` Wever says:

      I love to see comments such as this because I worked with a couple of guys like this. But in their hearts, they knew they were wrong because I saw them every day, being the first to hit the door after working 8 hours and making sure that their overtime pay was not a penny short, they certainly never came in on a holiday when they were not scheduled. Of course, these things are just a few of the things that the Union won for its workers with their blood sweat and plenty of tears.
      I really feel sorry for the people that bemoan Unions just because they do not have enough smarts to know what they have done for all workers not just Union members. 😦

      Like

  3. Ticked off taxpayer says:

    The sad thing is that since 2016, I’ve seen the balance in my self-directed retirement account double based on gains in relatively conservative stock market investments. In short, to actually lose money over the last two years you have to be pretty incompetent as an investment advisor. The city ought to be asking hard questions about why that pension fund deficit hasn’t shrunk during that period.

    Like

  4. Suggestion says:

    Try attending a city council meeting and posing that question.

    Like

  5. elrichiboy says:

    They say it was the pensions that got Stockton, but they built a lot of amenities with bond money, too.

    The writing is on the wall.

    Like

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