"Chicago officials are making repeated financial mistakes that any personal financial advisor would advise against...The majority of this debt is caused primarily by the city making pension and retiree health promises, but not properly funding them properly."
Truth in accounting? Is that the same as ethics in business? When Lori was asked if she’d run Chicago, she misunderstood and thought it was ruin Chicago,I’m all in!
She is hard wired as a progressive leftist. I think she was sincere on taking office in fixing corruption, but that, too is hard wired into the political system and she likely is working now on avoiding getting caught regarding her own activities. The problem with being such a hard wired leftist is that there is not nearly enough money to redistribute today to politically favored groups, and she cannot proceed in addressing tough problems such as violent crime because that would mean prosecuting and imprisoning groups of people which would make it harder for her to get re-elected or… Read more »
space ghost
4 years ago
why won`t u post that last comment Glen the truth will set u free try telling the truth
I don’t know what comment your are referring to but I know that all yours have to wait for approval because of past ones. You can either state your case for what you see as truth without the kind of bigoted generalities you have used, or go someplace else.
space ghost
4 years ago
Well the author of the above comment knows not what they talk bout as retired city workers have no health insurance educate yourself stop with the Fake News already
Municipal Employees’ Annuity and Benefit Fund of Chicago, A Pension Trust Fund of the City of Chicago. City of Chicago Retiree Group Health Insurance Plans Similar to 2020, there are currently two group health insurance plans that are offered to City of Chicago retirees in 2021. The City sponsored Blue Cross and Blue Shield Plan information is available by calling the following numbers:..” “The Labor Benefit Association offers a group healthcare plan adminstered by Aetna.“ “Both of these have been approved by the Fund and require that participants sign and submit a deduction authorization in order for the Fund to deduct… Read more »
The City of Chicago retirees have a choice of a City sponsored health insurance, was the point.
Retired City workers receive various subsidies, pay various premiums depending on the pension fund (MEABF, LABF, Fire, Police), all this can depend when they retired, and there have been lawsuits, and it’s changed over time, etc.
Typical of Illinois complexity in pensions and retiree healthcare.
WRONG Mike the City offers no Health care coverage NONE ZERO DOOFUS if the pension funds do that has nothing to do with the city of chicago the pension funds is TOTALLY separate from the city those covered by the city retired before 1986 think theres many of those people still breathing Mike doubtful the lawsuits are continuing have produced nothing as of the moment so u r totally misinformed and r spreading FAKE NEWS and LIES
“Circuit Court Judge Neil Cohen has ruled that the four city employee pension funds have an obligation to provide and subsidize retiree health care with funds provided by the city, but only at levels outlined in 1983 and 1985 amendments to the state’s pension code. That guaranteed subsidy amounts to $55 a month for police and fire retirees not eligible for Medicare, and $21 for those who are. For retirees covered by the Municipal Employees and Laborers pension funds, the guaranteed monthly subsidy amounts to just $25.” Chicago Sun Times article dated April 15, 2019 by Fran Spielman, titled, “Lightfoot… Read more »
CURRENT STATUS – July 22, 2020: Appellants’ Motion for Rehearing asking the Appellate Court to declare that the statutes do require the Funds to provide a retiree healthcare plan for their annuitants and, to enforce the Funds’ previous assertion that they had fulfilled this by contracting the city to be the insure; and to reassign the matter to another judge.
The website contains many previous entries regarding the cases.
Ah Mike lots of time on ur hands in moms basement well all of ur research shows exactly what Mike Ill tell u its that the city of chicago pays for no health insurance for retirees its that simple Mike kinda like u the lawsuit is still pending having been kicked up to the Applellate Court and back to Cohens court by the way Cohens a political HACK do a little research on him his wife was n the Obama administration and they r GOOD friends with wait for it the former nine fingered mayor Emanuel who stop the health… Read more »
Once again, there are many City of Chicago retiree healthcare plans / tiers / variations.
Perhaps there are tiers and variations with no subsidies.
But all four plans (Fire, Police, MEABF aka municipal workers, LABF aka laborers) have at least one tier / variation with subsidies, as stated in the Fran Spielman Chicago Sun Times article.
The retiree healthcare plans may have different names than the pension funds; the references are to the categories of workers.
Pages 97 – 101 in the City of Chicago FY 2020 ACFR (aka CAFR) contain the “Other Post Employment Benefits (OPEB) – City Obligation.”
“The City’s net OPEB liability of $1,963.3 million was measured as of December 31, 2020, and was determined by an actuarial valuation as of that date.”
Rough translation, a retiree healthcare unfunded liability of $1.9 billion.
What about pensions?
The City’s net pension liability (pension unfunded liability) in the same document was $32.9 billion.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
What is the difference between a City of Chicago balanced budget and a used car with bananas in the transmission?
The car is worth more.
Truth in accounting? Is that the same as ethics in business? When Lori was asked if she’d run Chicago, she misunderstood and thought it was ruin Chicago,I’m all in!
She is hard wired as a progressive leftist. I think she was sincere on taking office in fixing corruption, but that, too is hard wired into the political system and she likely is working now on avoiding getting caught regarding her own activities. The problem with being such a hard wired leftist is that there is not nearly enough money to redistribute today to politically favored groups, and she cannot proceed in addressing tough problems such as violent crime because that would mean prosecuting and imprisoning groups of people which would make it harder for her to get re-elected or… Read more »
why won`t u post that last comment Glen the truth will set u free try telling the truth
I don’t know what comment your are referring to but I know that all yours have to wait for approval because of past ones. You can either state your case for what you see as truth without the kind of bigoted generalities you have used, or go someplace else.
Well the author of the above comment knows not what they talk bout as retired city workers have no health insurance educate yourself stop with the Fake News already
Municipal Employees’ Annuity and Benefit Fund of Chicago, A Pension Trust Fund of the City of Chicago. City of Chicago Retiree Group Health Insurance Plans Similar to 2020, there are currently two group health insurance plans that are offered to City of Chicago retirees in 2021. The City sponsored Blue Cross and Blue Shield Plan information is available by calling the following numbers:..” “The Labor Benefit Association offers a group healthcare plan adminstered by Aetna.“ “Both of these have been approved by the Fund and require that participants sign and submit a deduction authorization in order for the Fund to deduct… Read more »
yeah Mike of which the retiree pays all the premium the City pays NOTHING Mike NOTHING try and KNOW UR FACTS
The City of Chicago retirees have a choice of a City sponsored health insurance, was the point.
Retired City workers receive various subsidies, pay various premiums depending on the pension fund (MEABF, LABF, Fire, Police), all this can depend when they retired, and there have been lawsuits, and it’s changed over time, etc.
Typical of Illinois complexity in pensions and retiree healthcare.
http://www.chicago.gov/content/dam/city/depts/fin/supp_info/Benefits/Retiree Health Plans/RetireeHealthcareInformation.pdf
http://www.labfchicago.org/retirees-and-survivors/retirees/health-insurance
http://www.meabf.org/retirees/news
https://wgntv.com/news/wgn-investigates/retired-city-workers-say-theyre-suffering-after-losing-health-insurance
http://www.ibew9.org/Uploads/UploadedFiles/cityofchicagoretireeshealthinfo_20210212081359.pdf
https://chicago.suntimes.com/2019/4/15/18407129/lightfoot-urged-to-restore-health-care-subsidy-for-city-s-oldest-retirees
http://www.fabf.org
http://www.chicagofop.org/retirees/retiree-healthcare
WRONG Mike the City offers no Health care coverage NONE ZERO DOOFUS if the pension funds do that has nothing to do with the city of chicago the pension funds is TOTALLY separate from the city those covered by the city retired before 1986 think theres many of those people still breathing Mike doubtful the lawsuits are continuing have produced nothing as of the moment so u r totally misinformed and r spreading FAKE NEWS and LIES
“Circuit Court Judge Neil Cohen has ruled that the four city employee pension funds have an obligation to provide and subsidize retiree health care with funds provided by the city, but only at levels outlined in 1983 and 1985 amendments to the state’s pension code. That guaranteed subsidy amounts to $55 a month for police and fire retirees not eligible for Medicare, and $21 for those who are. For retirees covered by the Municipal Employees and Laborers pension funds, the guaranteed monthly subsidy amounts to just $25.” Chicago Sun Times article dated April 15, 2019 by Fran Spielman, titled, “Lightfoot… Read more »
Krislov Law.
Two Retiree Healthcare Litigation cases.
City of Chicago v Korshak.
Underwood v City of Chicago.
CURRENT STATUS – July 22, 2020: Appellants’ Motion for Rehearing asking the Appellate Court to declare that the statutes do require the Funds to provide a retiree healthcare plan for their annuitants and, to enforce the Funds’ previous assertion that they had fulfilled this by contracting the city to be the insure; and to reassign the matter to another judge.
The website contains many previous entries regarding the cases.
http://www.krislovlaw.com/new-cases-investigations/city-of-chicago-v-korshak-retiree-healthcare-litigation
Ah Mike lots of time on ur hands in moms basement well all of ur research shows exactly what Mike Ill tell u its that the city of chicago pays for no health insurance for retirees its that simple Mike kinda like u the lawsuit is still pending having been kicked up to the Applellate Court and back to Cohens court by the way Cohens a political HACK do a little research on him his wife was n the Obama administration and they r GOOD friends with wait for it the former nine fingered mayor Emanuel who stop the health… Read more »
Once again, there are many City of Chicago retiree healthcare plans / tiers / variations.
Perhaps there are tiers and variations with no subsidies.
But all four plans (Fire, Police, MEABF aka municipal workers, LABF aka laborers) have at least one tier / variation with subsidies, as stated in the Fran Spielman Chicago Sun Times article.
The retiree healthcare plans may have different names than the pension funds; the references are to the categories of workers.
Pages 97 – 101 in the City of Chicago FY 2020 ACFR (aka CAFR) contain the “Other Post Employment Benefits (OPEB) – City Obligation.”
“The City’s net OPEB liability of $1,963.3 million was measured as of December 31, 2020, and was determined by an actuarial valuation as of that date.”
Rough translation, a retiree healthcare unfunded liability of $1.9 billion.
What about pensions?
The City’s net pension liability (pension unfunded liability) in the same document was $32.9 billion.
http://www.chicago.gov/city/en/depts/fin/supp_info/comprehensive_annualfinancialstatements.html
The Chicago population was 2,746,388 in the 2020 census, an increase of 1.9% from 2010’s population of 2,695,598.