By: Diane Benjamin
Tari Renner was on WJBC this morning with Scott Laughlin. Scott asked Tari about pension funding.
Tari had to mention the pension funding award he accepted several years ago. Pension funding was neglected for many years so Bloomington could do fun stuff like the BCPA and the Coliseum. When Tari was elected the first time, the Council did pass millions more in funding and they raised taxes to pay for it. Other spending can never be cut, it always requires new revenue sources for new spending. (Just like your personal budget!)
I guess Tari missed yesterday’s story: https://blnnews.com/2018/05/15/epidemic-of-at-risk-kids/
Even with millions more going into pensions, the percent funded isn’t increasing. Tari claimed this morning the pensions will be funded 100% by 2040.
Does he not see facts? Funding levels are not increasing:
What did funding levels look like prior to 2015?
See this link: Prior year funding levels – Warehouse
Fire pension Funding:
2013 – 53.3%
2012 – 51.4%
2011 – 51.4%
Police pension Funding:
2013 – 51.7%
2012- 57.0%
2011 – 58.2%
Tari? Tari? Facts matter, your massive increase in pensions funding will not guarantee any pensions in the future – PERCENTS are going down!
As of 4/30/17 Bloomington had a Fire pension obligation of $59,397,278
As of 4/30/17 Bloomington had a Police pension obligation of $66,314,753
Tari claimed Bloomington is leading the State in pension funding. If that is true, Illinois is more than doomed – so is your wallet and any police and firemen who think they will collect for decades of retirement.
.
.
.
.
.
Yes! The mayor is delusional and his sidekicks are cultural marxist fools!
Did Renner explain what math was used to determine the pensions will be fully funded by 2040? A lot of times politicians “fix” the pension shortfalls by either overestimating the investment rate of return or underestimating the number of years that people will be withdrawing from the pension fund.
They worked with a pension specialist, that doesn’t mean fake numbers weren’t used. Besides contributions, the plans need a high return on investment.
The increased funding for pensions in Bloomington which “earned” the City an award was by an increase in the utility tax—a regressive tax influenced by usage. Usage has been flat or slightly declining for local utilities, including water. Usage reflects population—the population is declining. Of course the funding will decline. It doesn’t help that investments are managed conservatively.
Don’t you just love how politicians throw far-out dates for stuff like this? Tari couldn’t balance this year’s budget, so how’s he know what a fund balance will be 22 years from now? It’s because he knows he won’t be around to be blamed when it’s not 100% funded in 2040. And he knows most won’t remember what he said by them. Hopefully in 2040 Tar’s still doing hard-time for his P-card abuses…..
Tari is NOT delusional–a clinical narcissist with very poor impulse control and probable serious alcohol abuse issues, yes, but not delusional.
It is a basic tenant of Marxist philosophy that lying to advance the “cause” is totally acceptable, even encouraged. Therefore, Tari will say anything to maintain his power and further his Radical Leftist agenda. Truth doesn’t matter to him. Power and Communism do.
Figures DO NOT LIE, but LIARS figure. TARI has become VERY adept at the latter.
Want to know WHEN he is lying, His lips move!!
Political Science Professor, Mayor, Liberal, Democrat, WHAT more could you ASK of a liar?? Guess his name could be Judas..