City of Detroit Pension Funds

http://www.freep.com/article/2009061...+on+funds++tab

Is there no end to the criminal activity inside the City of Detroit government? Are there no people with integrity left? Is what's left of any funds just ripe for the picking by anyone who has access to it? Where is the accountability? Why has this been allowed to go on and on? Does anyone oversee these crooks?

To all City of Detroit retirees AND all future retirees......now is the time to rise up and protest this criminal activity. DO IT NOW!

What happened to the class action lawsuit started when Collins paid over $9,000.00 for a plane ticket to Dubai?

Amazing how some people enjoy living high on the hog at other's expense. Pensioners are scrapping by on spam while trustees are globe trotting eating filet mignon.
What's wrong with this picture?
On top of that, expense accounts are routinely destroyed to cover up their tracks. There seems to be an outbreak of sticky fingers all over city government.

On top of that, the pension fund for police and fire has upped my contribution to health care [[blue cross traditional) from $118 a month to $158 a month, effective July 1. And I have to pay for my own Medicare Part "B" coverage.

Sure am glad I didn't count on my DPD pension for all my retirement living.

bizarre.. and shameful.. but some people will still defend it, on the premise that "other" community trustees also go on these trips.. ah, well...

Well this just adds to the reasons why the city is BROKE.

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Originally Posted by Ray1936

On top of that, the pension fund for police and fire has upped my contribution to health care [[blue cross traditional) from $118 a month to $158 a month, effective July 1. And I have to pay for my own Medicare Part "B" coverage.

Sure am glad I didn't count on my DPD pension for all my retirement living.

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It sucks, Ray. When they changed the retirement health insurance from Banker's a few years back, and I had to get my mom on Blue Cross, they told us that she had to pay for here Part B, too. She had never had to have it before, so for her to buy in was going to cost her double what her monthly pension payment was. My sisters and I jumped through hoops until we found someone at Medicare who understood what was going on and opted her out of it. She had gone 25 years being told she was ineligible for Medicare, and suddenly they wanted her to buy in. She's never collected Social Security, so she relied completely on that lousy $750 a month pension check.

After review, I would expect that most of this spending is 100% legal even if it's an unethical waste. If I was a retiree, I would demand that some or all of these people be booted and that rules be put in place to stop these abuses.

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Originally Posted by Novine

After review, I would expect that most of this spending is 100% legal even if it's an unethical waste. If I was a retiree, I would demand that some or all of these people be booted and that rules be put in place to stop these abuses.

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Half of them are appointed by the mayor. The other half are elected by the employees, and come from the rank and file.

I suspect these trips are being taken by the appointees.

They're being taken by the appointees and the employees. And management cannot prevent the employees from being absent most of the time while sitting in a city position. The rules need to be changed and they need to be very clear. But like Novine said, nothing illegal, just wasteful.

Why they hell would any of those funds need to be investing globally? If Detroit was that advanced, it would like look and run the way that it does.

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