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Commissioner Suffredin refutes Cook County Pension Board tactics to scare retired senior citizens
Friday, November 21, 2008 Special to suffredin.org
The Cook County Pension Board and President Todd Stroger are
taking advantage of retirees in an attempt to pass an ill-advised bond issue by
sending out letters implying their pensions are at stake, according to
Commissioner Larry Suffredin.
“The Stroger administration has hit a new low by using scare
tactics on retirees in order to gain support for an ill-advised bond deal that
will needlessly cost taxpayers millions in the long run,” said Commissioner
Larry Suffredin. “The Stroger administration wants future generations to
pay for their current mismanagement.”
In a letter sent out to pensioners, the Cook County Pension
Fund alleges that the fund’s financial health is in jeopardy if the Cook County
Board of Commissioners fails to approve a bond order to fill a funding
gap. The Cook County Pension Fund is currently the best funded public
pension fund in Illinois. Current pension benefits are not in jeopardy.
“There are plenty of alternatives to make a contribution to
the pension fund, other than saddling the taxpayers with the costs of an
expensive bond,” Commissioner Suffredin said. “The Stroger administration
is endangering their relationship with retirees with these reckless claims.”