Letter: Fire Department Privatization Coming
Jul 14, 2014 09:30PM ● Published by Steven Jack
Oswego was privatized but instead went the more costly route by using a small loophole to get its members from a 401k plan to a taxpayer funded pension costing the taxpayers almost a million dollars per year since 2008.
A Chicago Sun Times article July 2, 2014, states that the Union will sue if the village who can’t afford to fund these pensions privatizes to save taxpayers. Keep in mind that our legislators passed a law stating that in 2016 they will hold back sales tax revenue from municipalities to fund these plans. Any idea how this will cripple municipalities that rely on these funds to operate? Here are some quotes from the article. “If we don’t totally fund the pension by 2016, they’re going to start intercepting our sales tax,” said Hermanek,
Oswego used this same company and was privatized until our non-elected board voted to
Pat Stiles, Montgomery