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City’s Track Take Lower

Competition in other states means less money for pensions

January 22, 2013

WHEELING — The Friendly City’s coffers are on pace to take in record-setting revenue for the second straight fiscal year, but one source that feeds directly into Wheeling’s police and fire pension......

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(8)

Trollll

Jan-22-13 4:49 PM

Trollslayer, it is common for pension plans to be dually funded, in part by deductions from the employees paycheck and in part by their employer (in the case of the local Polics and Firefighters, the City), not so very different from FICA taxes for the SS pension. In the case of the Wheeling Police and Fire pension funds, it is the City which has been negligent in their contributions leading to these funds being in the red.

But Wheeling did not invent this situation and is far from alone. The State Teachers and State Police pension in Wv are also basically insolvent, as are city pension plans across the country, the entire state pension fund for NJ, etc. Heck, SS is teetering on insolvency and will go bellyup before our kids can draw a nickel back from it.

What we have is a complete lack of accountability on the part of civic leaders across the country to be responsible in their fiscal actions.

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GETACLUE

Jan-22-13 1:02 PM

NegativeEllie... Those are employee union owned businesses how it that the unions responsibility. The WFD and WPD employees already contribute to their pension funds. Seems like it is you that needs to GET A CLUE.

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TrollSlayer

Jan-22-13 12:32 PM

Is it legal for non-profit unions to contribute outside income to members’ pension plans? I’d think members would owe taxes for that income, but I could be wrong. Any accountants out there know?

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NegativeEllie

Jan-22-13 12:17 PM

Troll - there's nothing stopping the FOP or Local 12 from contributing to their own pension plans using profits made at the gambling parlors.

Never said the parlors are "city owned."

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TrollSlayer

Jan-22-13 10:54 AM

Technically I think Clueless is correct on this one - a first. It’s the city employees unions that own gambling parlors. I suppose that’s only appropriate, since it will be the idiots that commit all the crimes and set all the fires who will be throwing their money away to pay for the police and firemen’s campaign slush funds.

And the gambling addicts, of course, but who cares about them, right Dems? Besides, they can always call 1800GAMBLER to get advice, if not their kids’ milk money back.

Be proud, FOP and FF union members. Because when you hear about the misery caused by gambling here, remember, you built that.

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NegativeEllie

Jan-22-13 10:43 AM

Hey GetAClue - get a clue.

FOP - former Greens Donuts, South Wheeling.

FF Local 12 - Coffee and Tanning, Woodsdale.

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GETACLUE

Jan-22-13 10:19 AM

The city does not have any gambling parlors.

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NegativeEllie

Jan-22-13 9:53 AM

How about they use some of the profits from their gambling parlors to offset the difference?

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