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.”