And I say also unto thee, That thou art Peter, and upon this rock I will build my church; and the gates of hell shall not prevail against it. ~Matthew 16:18

Government Employee Pensions Bankrupting Phoenix

Posted: 2017-06-05

May 26, 2017 Sal DiCiccio

 

Read my letter to the City Manager expecting full transparency and accuracy regarding his plan to raise pension debt at least another $1.5 billion (most likely the true cost will be much higher).
Pls help by sharing. We really need to get the public informed on what is going on behind closed doors
Thank you
UPDATE: 4:59 pm 5.26.17
I received a letter from the city manager with very little useful information. He still has refused to send me the assumptions on which he is basing his plan to increase the pension debt....which should be something that is readily available. Also, absolutely no timeline as to when the public is going to get this information and the numbers associated with the pension debt increase.

Ask these questions: Why are the politicians and city staff destabilizing the police and firefighter pension plans? Why are they not doing this to their own pension plans?

Phoenix made a contract with our police officers and that contract needs to be held. What we're talking about here is the employer contribution side. The police officers have fulfilled their side of the agreement. Now Phoenix politicians and staff are looking at putting the entire system in jeopardy. Phoenix is about to put at risk police officer's pension. All you have to do is look around the country and see what government's that have piled debt upon debt have done to their obligations.
You only need to ask yourself one question. Adding at the very minimum another $1.5(actually more than $2 Billion) billion in more pension debt, does that help or hurt you?
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