It's costing you money - a lot of money.
The story is from Bloomberg News and is shocking. Everyone knows of the problems with the golf courses, but this is an account from the beginning to the present time, and explains the bad judgment and criminal activity that have contributed to a very serious problem.
Municipal contributions to MPERS have skyrocketed in a time of severe budget cuts. Bossier City and other municipalities now pay 25% of police payrolls into the the system, as opposed to 11% last year. According to the article, it is expected to rise to 28% in the new fiscal year beginning July 1st.
- “It was like a gigantic playhouse,” says Nick Congemi, 68, chief of the Greater New Orleans Expressway Police in Metairie, who for years criticized the system’s leadership and investments. “These people have taken the futures away of good, decent law-enforcement officers who thought they could depend on this for the rest of their lives.”