By Lieutenant James P. Maloney, Trustee
I would like to congratulate all the recent retirees. In 2012 there were 570 retirees from the Chicago Police Department. That compares to 475 for 2011. I certainly have to thank the staff of the Pension Fund for all their work, patience and understanding in assisting our retirees.
Everyone, both active and retired should keep up to date on legislation in Springfield. Monitor your association and bargaining unit websites for important updates. It is very important to know your state representatives, meet them and voice your opinions. Your voice and the voice of your friends and relatives do make a difference in their decisions in Springfield. . . .[Read More on Page 1]
CONTRACT VOTE AND “PENSION REFORM”
by Sgt. Brian E. Wright, Trustee
As I am sure many of you are aware, the Chicago Police Sergeant’s Association (CPSA) negotiated a contract that was recently voted down 876 to 134. In that contract, many of the work issues that are mandatory subjects of collective bargaining were either status quo or had slight changes along with a 9% raise over 4 years. The sticking point, and the reason it was defeated as far as I am concerned, was that it was intrinsically connected with “pension reform.” I put “pension reform” in quotes because reform means “the improvement or amendment of what is wrong, corrupt or unsatisfactory” (see dictionary.com definition). . . . [Read More on Page 1]
Hello to All
by P.O. Michael K. Lappe, Trustee
First, let me offer to you my gratitude for electing me as your Pension Board Trustee for the next three years. I would also at this time publically acknowledge our former Trustee, Michael Shields who served our membership unselfishly in a very spirited manner during his three year term.
As your newly elected representative, I have been on the fast tract learning what my responsibilities are. First and foremost, having to execute the fiduciary duties in respect to investing pension funds assets, disbursing pension fund assets, adjudication of disability, retirement and survivorship claims and continuing education in pension and investment matters can be very time consuming. No doubt about it, this is one full time adventure here at the Board. . . . [Read More On Page 3]
by Kenneth A. Hauser, President
Since 1990, American manufacturing employment fell from about 17 million jobs to the low in 2010 of about 12 million. This trend is reversing. Over the last three years, job growth in the U.S. manufacturing sector has exceeded the pace of growth elsewhere in the U.S. economy. This is the first time since the 1980s that manufacturing employment has grown faster than non-manufacturing. This is expected to continue. The U.S., with its flexible and educated workforce, lower energy and transportation costs, resilient corporate sector and highly reliable quality controls, has become the most attractive place in the world to manufacture many high-end products. . .[Read More on Page 4]
- Spring 2013 ◊ Issue 50
- Summer 2013 ◊ Issue 51
- Fall 2013 ◊ Issue 52
- Winter 2013 ◊ Issue 53