Probably the most important benefit for police officers is the pension.
For the decades of difficult, dangerous work of law enforcement, police expect that their pension will be waiting for them.
And there is perhaps no issue more filled with misinformation than the funding and politics surrounding this key benefit.
First, members should understand a crucial piece of legislation that passed during the Angelo administration.
Though a little complicated, it’s essential that members be aware of it.
On 30 Nov 2016, a bill passed that moved a clause called the "born before date" to 1 Jan 1966. This means that there were no increased retroactivity benefits for FOP members from 2010 to 2017. Because of this, officers who retired after attaining age 55 from 2010 until now have each lost as much as $11,000.00 in pension benefits that they will never makeup.
That’s right, $11,000.
And it’s not just the lost money. This bill sets a precedent: The Angelo administration the first in the history of the FOP that failed to garner retroactivity.
Why should FOP members see such a crucial benefit diminish? Why should we open such a door in negotiations? We do not need FOP leadership that negotiates away our benefits, especially a benefit as important as our pension.
Why did Angelo do it? No one knows for certain. But some point to the possibility that he did it in exchange for a cut of a future Casino proceeds.
Anyone seen any casinos in Chicago? Anyone seen any under construction?