April 11, 2007

Oak Park Police Board Releases a Financial Bomb on the Fraternal Order of Police and its Members.

report by Ed Vincent

The Pension Board made a big, big, faux pas, error, screw up,
with implications ready for trial.  Oak Park is one of the few,
if not only, Pension board that decided to do all the math,
accounting, and review in its own Finance department-rather
than use an external accounting firm to check the numbers.

Is is neglect, a simple mistake, incredible ineptitude, or all of
the aforementioned?  When many, if not all of these defenders
of Oak Park's laws and citizens were given the opportunity to
retire with an additional benefit of cash added on to their
retirement payments-it was something too good to refuse.

The Pension Board now wants to stop the larger payments and
demand repayment for the amount paid out in question.  The
amount in question is nearly $370,000.00.  Some of these retired
Police will get up to a $1000.00 less each month and have to
pay back with interest a portion of the $370,000.00 (divided by
some 19 or more Police officers).

Many of the retired police will have to return to work in any
job they can find to make ends meet.  The Fraternal Order of
Police representing the Officers is preparing court papers to
seek justice for its members.  Police feel betrayed, they were
shown the numbers, the math, by the Village, and asked to
retire--many to reduce the budget and to replace them with
younger Officers making considerably less money.

Police Board Members Listen to the Announcements of Errors.
© Suburban Journals of Chicago Inc. photo

Streaming Video
© Suburban Journals of Chicago Inc.
Oak Park Police Pension Board Addresses Math Error Missed for Almost Half a Decade....and the Consequences.

Village Officials, Lawyers, and Retired Police Sit Back and Listen to the Unthinkable.
© Suburban Journals of Chicago Inc. photo

The courts will have to decide intent, damages, fairness, and
some resolution to this horrific agenda.  One member of the
Fire Pension asked if this was to impact them as well.  They
were told that it was up to them to take action if they felt they should.  It may be that the Fire Pension board may take no action and let their situation stand.  It was heard that there
disparity was not as large as the Police dispute.

The Police are reported to have some $64,000,000.00 in their
Pension fund and it might cost them the same in legal fees to
try and get their money back from the FOP retired Police.

The anxiety on the faces of many could be seen clearly, but
the outcome may change even more expressions on all the
participants.

If the money in the Police pension fund drops too much they
can always obtain more tax funds to build it up again.  Oak
Park's past Deputy Chief Frank Kennedy asked why the Police
Union had not been contacted when trouble was found.  The
Union too wanted to know.  The Board called for hearings
on the dispute, others noted that the Board had apparently
already made up  its mind on the matter.  One of the problems
that help contribute to this math debacle was the issue that all
the accounting was being done in the finance department and
with no external accounts. 

It is not known why Oak  Park took it upon themselves to manage
all the financial information, when all other known communities
have certified public accountants managing their funds.  An error
so large in monthly payments should have been caught by someone on the Board or within the Village.  Many Police are talking about suing the Police Pension Board, but unless someone
committed a felony of some type they would more than likely be
found innocent of the charges--and they have their own insurance
to cover their legal costs in court. 

Some Police believe the Village, or individuals on the Board
are trying to exploit this topic for personal gain, while others
wonder why this has happened to Oak Park, to them, an no
one else in the State.  No one has any idea if these calculations
were wrong around others towns and villages in the State.

We will keep you posted of updates.

April 9, 2007

Trouble With The Oak Park Police Pension Board
report by Ed Vincent

Many, if not the majority of Oak Park police are upset that
they have been working without a contract for nearly a year.
Twenty some retired Police officers may find their next pay checks a lot smaller, some by as much as $800.00 a month.

Some of the officers who have retired and our now facing
reduced benefits have been shot several times while performing their duties as police officers.  Some need joint replacements
for their injured limbs.  Officers have said that they may need
to leave retirement and fine part time jobs to make ends meet given the Villages desire to cut their benefits and take money
back from what the Pension board is calling over payments.

There is a lot in contention here, a lot of legal lines to cross
and check.  The officers in question were reportedly told that
they had a given amount that would be paid to them at retirement and now those figures are changing.  Legal battles
are likely to occur.

When a Village is happy to spend $6,000,000.00 or more
on putting in a street through a pedestrian mall, while at
the same time forcing retired heroes from the Police department
to seek jobs to make ends meet, where is the heart in that
action?

Representatives of the VCA have noted opposition to these
moves against the working class, and those who have served
this town with valor and with their lives at risk.