Chicago Police Pension Forensic Audit Ends With Disturbing Findings – Forbes

Pension expert Tobe expressed concern regarding an arrangement which he considers highly unusual involving the Trustee Board Chair—who is an active police officer—also serving as the CIO of the pension for the last two years. “The toxic mix of defunding the police pension, conflicted and high-risk investments, and poor management of the pension cry out for greater transparency and accountability.”
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susan
4 years ago

If Chicago, and every other Illinois taxing body with defined-benefits obligations were forced to fully fund pensions NOW, right now, as a matter of law, complacent/ignorant/indifferent/complicit taxpayers/voters/non-voters would have no choice but to change their/our wicked ways.
It would start with a rollback to reasonable standards (fiscally responsible, relative to the means of the taxed community) for mandated public school service provision.

Dumb and dumber
4 years ago

:Distrubing findings” You know what is even more disturbing ? How about a failed compliance attorney who became an ambulance chasing Boca Raton “Securities” attorney and a B grade consultant writing a garbage report with no real data inputs, regurgitating a discredited Oxford study and fanning the flames of the already troubled PABF. These clowns are worse than bucket shop boiler room slime. I hope the coppers aren’t paying these skels one penny. Every single underfunded plan in Illinois is underfunded for one reason. The State didn’t make their contributions. Period. Every plan has a worthless IOU from IL and… Read more »

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