by Tim McPhillips | Nov 18, 2021 | Newsletters
When I first became a trustee seven years ago, I would occasionally have members ask me if they could take a refund of their contributions from the pension fund. My answer was typically – “Don’t do it. But if you want to, as long as you are under 50 you can have...
by Tim McPhillips | Sep 25, 2021 | Newsletters
Brothers and Sisters, This year is the first year that the City has put into our pension fund what professional actuaries believe is an adequate amount of money to start properly funding our pension fund to secure our retirement benefits. Finally, after decades of...
by Tim McPhillips | Sep 24, 2021 | Uncategorized
As your pension fund trustee, I am often asked about Tier 2, what it is, and how it differs from Tier 1. Tier 2- What it is? Tier 2 is a response by the Illinois Legislature to address the chronic underfunding of pension funds throughout the State. The legislation...
by Tim McPhillips | Sep 21, 2021 | Newsletters
As a Chicago firefighter or paramedic, do you believe your public sector union dues, spent on political contributions, are beneficial to your long term financial security or your families’ well-being? Do you know how much of your monthly union dues end up in the...
by Tim McPhillips | May 15, 2021 | Newsletters
LEGAL THEFT AT OUR PENSION FUND Over the years, as your pension fund trustee, I have written newsletters in an attempt to counter who I call the City Apologists, those that try to discount or discredit any genuine concern for our pension fund’s integrity. Many of...
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