Another increase is in the works for the Louisiana Municipal Police Employees' Retirement System.
In 2010 the contribution rate for municipalities jumped from 11% to 25%, now it is going to 31% in the fiscal year beginning July 1st. Let that sink in – 11% to 31% in two years.
If you will remember, the last increase came when Bossier City
Individual contributions also have increased.
I have blogged about the MPERS mess on a couple of occasions, particularly about investments locally in Olde Oaks and Stonebridge that have been big money losers. Another bad decision was to help finance Hal Sutton’s Hill Country development, and then the decision to subordinate a first mortgage on that property in order for him to acquire more from a bank. The system lost about $30,000,000 in that alone.
Add to that $1,000,000 plus that was embezzled by the system’s attorney, although that has been, or is being reimbursed.
“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. You can read that account here.
Doubtless this is one of the reasons that the council nixed a proposal to give a 2% raise to all city employees and to hire 8 new police officers.
Councilman David Jones was the only vote in favor of the raises and hiring new officers.
Just to keep it all on the up Jim, I talk to the chief nd I wanted to hire 8 to replace the 8 that he predicts will retire and we can have them street ready during 2012. As far as the raises we could slow the rate of fund balance growth and reward people that are doing more, efficiently.
ReplyDeleteThanks,
David
Thank you sir.
ReplyDeleteI understand Hanisee voted for hiring officers too.
ReplyDeleteI could be mistaken, but I believe on the final amended budget David Jones was the only one to oppose.
ReplyDeleteI would like to say again. Don't blame the officers for this mess. We are just as upset with this mess as everyone else. For me personally, I'm looking forward to the day Bill Fields is held accountable and goes to jail.
ReplyDeleteMPERS has a new Chairman. NOPD Assistant Chief Henry Dean is now the 2012 MPERS Chairman. Dean was chairman for serveral years, voted to purchase the golf courses, took trips to Ireland, and signed for several lines of credit for the system without the boards approval. and FYI the board has paid another $800,000 to cover the golf courses losses in the past several months, yet they are still behind in payments to the vendors.
ReplyDeleteThis article is not done justice unless you read the link! Kinda makes you wonder why the cops kick the local people when they are paying the bills for this mess. Who elects the pension board. Not the citizens that are paying for this and the employee participation in absurd. We should just hire the sheriff Dept. to patrol the city nd drop the redundacy
ReplyDeleteThis blog post wasn't intended to do it justice. That was done in the other blog posts that I have put up about this, including the numerous links. This is only about the current increase.
ReplyDeleteI can't figure out why the taxpayers are being held responsibile for these bad investments. Nobody bails me out when I make a bad investment.
ReplyDelete2:56,
ReplyDeleteThat's the one question I would like answered. Some politicians had to agree to it.
Unbelievable!!!! What happen to the word NO!!!!!!!!!!! wHEN i BORROW MONEY FOR MY BUSINESS I HAVE TO SIGN A PERSONAL GUARANTEE, The appointed officials and elected officials should be accountable for this mess. I am sick of all the corruption,
ReplyDeleteYour fine state senators and representatives passed the laws to allow this mess to occur. Would you hire a cop or fireman to oversee you retirement?
ReplyDeleteWhy doesn't the State Attorney General get involved in this mess and clean it up. Someone is responsible for this mess. It has got to stop.
ReplyDelete9:58,
ReplyDeleteSchylur Marvin and Jimmy Hall are best friends with the attorney general. Good luck with getting to eliminate corruption.
One of the MPERs board members,I won't mention his name but his initials are B.F., and he currently works for the Bossier Coroners Office and use to own a pawn shop at the corner of West Gate and Barksdale, use to spend his time rubbing elbows (while on paid admin leave) with the legislators in Baton Rouge. And B.F., along with a former chief have their sticky fingers deep in this mess.
ReplyDeleteAwwww, what is this world coming to, when you can't trust a pawn shop owner???
ReplyDeleteWhat is a bigger issue? The debacle called Cyber Innovation Center or MPERS or the parking garage?
ReplyDeleteThe Cyber Innovation Center isn't a debacle. Where have you been? According to the Bossier Utopians corporations are lines up fifty across and one mile long wanting in the CIC, so they're going to have to put up more buildings, and probably a mutli- level parking garage so that someone's bud will get a lucrative construction contract and someone will get a nice kickback.
ReplyDeleteHey, that multi-level parking garage for the National Cyber Research Park is a GREAT idea! Glad you gave us that idea, and we do have some experience with that sort of thing. Bossier Parish is going nowhere but onward and upward.
ReplyDeleteThe AG's office began an investigation in 2010, and I requested a follow-up in 2011. I was advised that the investigation was "ongoing" and no other info was available. Someone needs to check if Zinna reported to fed prison in Dec 2011. I'd still like to know if he is "cooperating" and is willing to rat out his co-conspirators that get free golf/equipment,trips and other freebies that went along with the purchase of the golf courses. BTW, the new head of the MPERS is assigned the NOPD's Public Integrity Unit. The fox is now in the henhouse.
ReplyDeleteThe legislature created this mess. Meanwhile these guys are chumming it up with the legislature. Aldley loves to sick the legislative auditor on folks. Why is he quiet on this one?
ReplyDeleteAdley isn't the only one. Old B.F. (The cigar chompin', Corvette drivin', former pawn shop owning, retired BCPD captain) was controlling former Representative Billy Momtgomery like a puppet. Makes one wonder what use to go on in the house in Baton Rouge that the union use to own where only certain union members were allowed to go. Old B.F. himself use to brag about partying with members of the legislature. Most of this was going on when EWE was in office.
ReplyDeleteThe real injustice is to the other non-public safety City employees who have not received a raise in 3 years unlike their fellow public safety employees who have not missed a raise due to state law mandating their raises. These are the employees who have the thank less never appreciated jobs such as patching pot holes, keeping the grass cut along all public roadways, picking up litter, repairing water lines, maintaining traffic signals, reading meters, and last but not least the ones that keep the sewer flowing. These employees already on average make half the salary of their fellow police and fireman. So now the city council is with holding these raises so they will have a surplus come election time next year!!! Please do not forgot that during the last election in 2009 all was well in April and after they all got re elected all of a sudden in October there was a $6.5 million dollar defict
ReplyDeleteAnon 12:22,
ReplyDeleteI agree with what your saying but let's not forget it's not just the MPERS situation that caused the deficit. The Mayor, City Attorney, and city council spent slot of money as well. Their failed projects and spending I believe outweighs the city's contribution to MPERS.
MPERS vs. Anything else! You must be on of the crooks or an idiot. Probably the 2nd.
ReplyDeleteTo all those who are pissin' and moanin' about what is happening in Bossier City can go pound sand. People, including myself, have put out warnings on this blog that things aren't right in Bossier and we were scoffed at or not taken seriously.
ReplyDeleteThing haven't been right in bossier for a long time.
ReplyDeleteAs long as the residents of bossier continue to elect "good ol' boys" it won't change.
The same group of people have been in charge in bossier for so long that they could write a book to rival Fidel Castro's new one.
Anyone who thinks that Bossier in a bastion of ethics must be in the "in crowd".
John
The investigation started in 2009 not 2010. The investigation is not over. Zinna is still cooperating, as well as others who were able to find out information to assist in the investigation. MPERS has paid $800,000 in the past 6 months to pay the bills of both golf courses. And that is after hiring a management team out of New York at a cost of $5000.00 a month, with a clause in the contract stating that MPERS would pay any shortages of golf course funds! Oh yea, Sutton still has not paid the $30 Million back as well!
ReplyDeleteIn other news, the Firefighters Retirement System is now under investigation as well!
Now grab the popcorn and coke, cause its not over I assure you!
Anon @ 11:16, I hope you're right. I also hope these crooks, especially a former pawn shop owner, will get to use the prison system's e-match.
ReplyDelete8:56, Did you fail to redeem something and have that pawnbroker sell it? You shore are harping on him, and the fact that he was a pawnbroker.
ReplyDeleteAnon @ 1:22, No, I have an aversion to reptiles.
ReplyDeleteI read in the times where a CNG gas station was opened in Mansfield. Did anyone notice the big difference between that one and the ones in Bossier? The one in Mansfield is owned and operated by private companies. Our Mayor thought it would be better to build two with tax payers money and then own and operate it like a private business. It just doesn't make sense to me
ReplyDeleteI like how everyone including the city official are down on the MPERS board for their bad investments. Well isn't that the pot calling the kettle black. I believe the mayor and city council have made some bad investments of their own. And I believe it's the dumbass people of bossier who keep electing them over and over.
ReplyDeleteAnon @ 10:58,
ReplyDeleteThe problem is the average resident of Bossier doesn't have a clue, and there is no real media any more that will even attempt to seek the truth. The media reports on new clap clinics being built in Cedar Grove and what ever propaganda Jimmy Hall gives them through Mark Natale. They don't check on the facts. How many times have there been reports that there's a line 15 wide and a mile long of businesses waiting to get in the CIC.
The Bossier Parish School Board has seen the success in using a propagandist and hired Sonja Bailes to be there's, and once again the media feeds on the b.s. D.C. feeds them through Sonja.
The ones who see the corruption first hand and trying to warn others are shouted down or laughed at. So, if that's what the dumbasses in Bossier want, so be it.
Well don't that beat all! I've been harpin over a year on this blog about all the crooked politicians in this parish and it looks like it is sinking in. Larry Dean is finally getting his come-upins and its only due to the guts of a young man who decided to run against him when no one else would. If it had not been for him, poor Julian would still be calling cousin Larry,"boss".
ReplyDeleteIts high time that the Bossier City mayor get run off along with Jimmy Hall and most of our city council, school board, and Police Jury.
But hey, who am I? Just a tax payer and honest citizen who wants more for the place he calls home.
I hate to burst your bubble, McConnell did not force Deen out of the race. He never had a chance
ReplyDelete