A Chicago cop writes about public service pensions.
Fred,
As a retired Chicago Police Officer I am already taking a big hit on my pension. When Illinois passed the earlier legislation regarding new hires they also changed the way the cost of living was figured into the pensions of retired Officers born after Jan 1st, 1955. I have been retired for over 3 years and have not received any cost of living adjustments and will not get any until I reach age 60 at which time I’ll get a whopping 1.5 percent. This is a shameful way to treat public employees who