Throwing away $49,152.21

By:  Diane Benjamin

Even though Bloomington’s Springfield attorney (Jeff Jurgens) knew on August 24th that stopping pensions spiking wasn’t a violation of the Illinois Constitution, the policy still hasn’t been changed.  See his email and IMRF response here:  https://blnnews.com/2015/09/18/who-knew-and-did-nothing-imrf/

The agenda for Monday is on-line, nothing about stopping the rip off of taxpayers that is now over $1.2 million.

Remember that tax increase last Monday?  Mad yet?

Monday night another accelerated payment is going to be approved:

wirezThis bill is from June for just one employee.  See details here:  https://blnnews.com/2015/08/26/imrf-what-did-hales-know-and-when/

Bloomington still owes $7422.88 for another employee.  (Same link)

City Manager David Hales claimed at the meeting on 9/14 that he needed 60 days to study pension spiking.  Attorney Jurgens knew August 24th (3 years late!) that not allowing spiking wasn’t going to get the City sued.

Hum.  It will be interesting to see how many more employees suddenly trigger accelerated payments before the Hales 60 days is up.

Is David Hales REALLY evil enough to allow more employees to spike their pensions before changes are brought to the Council?  Of course, that would be at taxpayers expense!

We will see!  Pitch forks ready?

 

7 thoughts on “Throwing away $49,152.21

  1. PCARD GRAND TOTAL: $108,282.73
    WIRE GRAND TOTAL: $421,972.48
    I’m assuming the wire transfer totals are itemized somewhere in financial report. The PCARD total seems like a lot of $$ for one month. $1.3M/year!!

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    1. PCard in May was $153,000+, June and July was more than $140,000. This is a cheap month. Wire transfers are on the last page. Isn’t the Council suppose to approve spending before it happens?

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  2. Their only fear in changing the policy was possibly being sued. That’s the excuse they have been using.

    To me the risk of being sued and winning by the city is worth it. It will probably cost them less too rather than continually paying for the pension spikes.

    You’re probably right. I’m sure others are lining up to spike here soon. The longer they dance around the chances of more spiking will occur.

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  3. “Bloomington still owes $7422.88 for another employee.” There is no report of transfers in the 9/14/15 “Bills & Payroll.” Any late Accelerated Payment accrues interest at a relatively high rate.

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