by Tim McPhillips | Dec 19, 2020 | Newsletters
I have been asked by members what I think of the City’s budget that passed the City Council in November. As a trustee of our pension fund I like the budget because it finally levies enough property tax to start funding our pension benefits based on sound financial...
by Tim McPhillips | Aug 26, 2020 | Newsletters
A short time after the recent Local 2 general election, the Secretary-Treasurer “published” the annual financial statements of our Union as required in the by-laws. I really don’t think putting them on the website buried under a bunch of other, less relevant...
by Tim McPhillips | Jul 11, 2020 | Newsletters
A month ago I published a chart that illustrated the revenue sources for a typical public pension. That chart alone, published by the National Association of State Retirement Administrators (NASRA), does not provide a good picture of where our pension fund stands. ...
by Tim McPhillips | Jan 17, 2020 | Newsletters
As many of you know, or at least should know, the health and security of our pension fund is dependent on a successful launch of a Chicago casino. Traditionally, the City funded their portion of our retirement security through property taxes; however, because that...
by Tim McPhillips | Nov 9, 2019 | Newsletters
There was some spirited debate last month about the effectiveness and relevance of Local 2 participating in the political process through campaign contributions. Clear lines were drawn between the membership that think it is effective and those that do not. It was...
by Tim McPhillips | Jul 19, 2019 | Newsletters
You may have received an email from Local 2 President Jim Tracy stating my last pension newsletter was defamatory towards pension fund trustee Tony Martin; I disagree. Tony Martin refused to follow the pension Board’s specific direction to describe the Illinois...
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