While I share Jason's frustration with the Mpls Police Relief Association (and also the Mpls Fire Relief Association, since they pull a lot of the same crap), I think it's important to be fair and note that it's not the unions that are at fault here, rather, it's the pension program boards/managers. In fact, many of the active members of both the police and fire unions will tell you that they're pretty fed up with the pension boards, but they lack the ability to do much of anything about it.
Also, not all the pension programs are engaging in the kind of short-sighted foolishness that the MPRA and MFRA are notorious for. For example, my understanding is the Mpls Employees Retirement Fund doesn't engage in the 13th check shenanigans. If their investments come out ahead for a given year, that money is used to shore up the fund's ability to meet obligations in the long-term. That's what good pension investment and benefits administration program managers do. And the fact that MPRA and MFRA do not do that is one reason why they've gotten in hot water with the State Auditor's office. Mark Snyder Windom Park On 8/29/05 6:05 PM, "Jason Sittko" <[EMAIL PROTECTED]> wrote: > I recently read that in recent rounds attempting to address the > city's pension issues, MPRA negotiated for a potential investment > performance bonus referred to in the SW Journal article as a "13th check." > If true, I am amazed. I mean...what in the &$#? REMINDERS: 1. Be civil! Please read the NEW RULES at http://www.e-democracy.org/rules. If you think a member is in violation, contact the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[email protected] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
