GOV, Maywood police & fire pensions underfunded, tax increase likely [M]
See Maywood Herald (David Pollard) for more information.
How much of the problem is that the village wasn't paying enough into the fund? And how much of the problem was the pension fund board allowing Democratic Committeeman Eugene "Gene" Moore to mismanage the fund?
A credible source has alleged significant mismanagement while Moore invested the fund. Before a tax increase is approved, the public should feel confident that there either was no misappropriation of funds or that the parties responsible have been held accountable.
The [proposed tax] hike is to help replenish the village's police and fire pension funds which have gone under-funded for years, according to village officials.
How much of the problem is that the village wasn't paying enough into the fund? And how much of the problem was the pension fund board allowing Democratic Committeeman Eugene "Gene" Moore to mismanage the fund?
A credible source has alleged significant mismanagement while Moore invested the fund. Before a tax increase is approved, the public should feel confident that there either was no misappropriation of funds or that the parties responsible have been held accountable.
The decision may also depend on the public. Before making the estimated tax-levy increase permanent, the board has to have a public hearing, which will be Dec. 6 at 6:30 p.m. just before the Village Board meeting in Council Chambers, 125 S. Fifth Ave.
posted by Carl Nyberg at
2:30 PM
16 Comments:
I am aware of the FBI and the IRS investigating Maywood's underfunded pensions, and Moore's involvement.With the help of the previous Mayor, and the current Administration, charges will soon be coming towards a certain political official in Maywood, with a conviction being anywhere around a 6-8 year conviction. Mr. Moore is in deep trouble, that is why he has hired an attorney to navigate all the depostions he will be doing soon.
By
Anonymous, at 2:45 PM, November 23, 2005
Who is Moore's attorney?
By
Carl Nyberg, at 3:01 PM, November 23, 2005
I'm not sure, maybe Chris Welch?
By
Anonymous, at 3:17 PM, November 23, 2005
Has Welch ever been on the winning side of a legal tussle? Seriously.
Of course, whoever is/does represent Moore on this is gonna be... let's just say the bookmakers are probably gonna favor the feds on this one.
By
Carl Nyberg, at 3:33 PM, November 23, 2005
BTW, what do PrPr readers think of the theory that the thing Moore and Lightford love about Welch is that he's such a lightening rod and media hog?
Steve Brown, a USNA classmate, and former CO of the Forest Park Reserve Center taught me the Fourth Law of Thermodynamics, "If the heat is on someone else, it's not on you."
Does Welch's antagonistic style help Moore and Lightford fly under the radar?
By
Carl Nyberg, at 3:35 PM, November 23, 2005
Poor Maywood always being raped by the people who say they love her the most.
Years ago Maywood almost went into receivership due to miss-management, corrupt politicians and village employees who were on the take.
A former Treasurer left under fire after some $$ came up missing.
Just last year a girl in water was caught red-handed and former Mayor Conner and Trustee Guzman swept it under the rug.
Whatever happened about missing money in the water department?
How could the politicians let Moore manage the fund year after year knowing full well he was corrupt. He even had a county employee on the pension board!
By
Anonymous, at 8:43 PM, November 23, 2005
Truth Serum says..........Hummm...
Wasn't Moore invovled with the Near North Insurance Agency scandal? Or were they the broker of record for the Village of Maywood with Moore getting a kick back/employee salary mmmmm.....Benny from Near North got a lot of time.....His house is also for sale.....This also sounds similar to the Blue Cross Blue Shield Deal at Proviso.....
One of Gene's Fall guys died last year..such a tragic occurence with Mr. Jackson,,, he could of linked all of this mess together..a robbery hummm....This has going on for years....this is the mortgage payment for 3 N. 5th avenue or whatever the address is...
Gene is giving CW on the job training lets' stop the madness.. to be continued....
By
Anonymous, at 2:46 PM, November 24, 2005
Moore and that racist Lightford, are so pleased by there pet money Welch getting all the attention, while they go unscathed and under the radar. Lightford recently had a fundraiser at the Best Western Motel in Springfield, and every state rep. , senator and lobbistist attended the party in room 69 with tickets being $50.00 per trick! Moore is the worst of the worse and his partner Welch is soaking up all the publicity because he is an egotistical maniac and a clown! Welch will lose and be thrown out like a used condom by Moore and Lightford!
By
Anonymous, at 8:52 PM, November 24, 2005
Regarding the water department, what keeps the new leadership from requesting the State's Attorney prosecute the misconduct?
By
Carl Nyberg, at 12:57 PM, November 25, 2005
anon, I had to delete your post because it wasn't under a pseudonym, but you raise a good point.
The unions representing the police and firefighters are right to hold the village of Maywood accountable for underfunding and mismanaging the pension fund.
However, if the unions supported the elected officials that allowed the fund to be mismanaged and underfunded, it does seem like the unions bear some responsibility for the problem too.
Did the unions back Moore and Connor? If they did, did the attorneys representing Maywood make this argument when the case was contested?
By
Carl Nyberg, at 1:01 PM, November 25, 2005
First let me tell you all that all investigations are being done. Now from what I have read, we owe alot of money to the pensions and are required by a federal judge to make them whole. Anything less than 5% tax increase would only keep us in the hole for years to come. I also can point fingers and bad mouth everyone but I won't. What I would like to see is the Maywood board take ALL MATTERS seriously and start addressing them now. The more we put our problems on the back burner the more we will have to pay in taxes in the years to come. It is time to start making hard discissions to get the village out of the hole it's in.We all know who is responsable, but it is up to us to fix it.
Thank you
Trustee Lopez
By
Anonymous, at 1:25 PM, November 25, 2005
Trustee Lopez,
Thank you for sharing your information as somebody who has been dealing with the problem.
Who is the plaintiff in the federal suit? If the unions are the plaintiffs, doesn't it seem fair to ask them if they were supporting the pols that made the decisions now being contested in court?
It doesn't seem right if the union backed Moore and Connor and now is suing the Village of Maywood for money to compensate the union for mismanagement by their elected officials.
By
Carl Nyberg, at 2:04 PM, November 25, 2005
As with most villages, Maywood trustees have underfunded the pension plans over all my years on the board but never to the extent that there was any danger that there was not enough to pay pensions. BUT, we agreed to catch up and that is what we are doing. But we, the board, do not manage the fund (read, decide on investments)which is the province of the Pension Board. If Gene Moore has his hooks into the Police Pension Board, then I feel sorry for the present and future police officers who would be the ones most harmed by any mismanagement by the pension board. I know for many years, until we actually withheld pensions dollars, we (the Village Board) could not get any audits from the Police Pension Board while we never had such problems with the Fire Pension Board. In conclusion, blame generations, including me, for any underfunding, but blame the Police Pension Board for any mismanagement of the monies they have received.
By
Anonymous, at 10:06 PM, November 25, 2005
Gary Woll,
Is the Maywood Pension fund a "defined benefit" fund or a "defined contribution fund"?
By
Carl Nyberg, at 10:33 AM, November 26, 2005
Aren't the pension funds legally required to perform and provide audits? If they weren't doing their jobs, why not turn it over to the State's Attorney? I suspect facing felony charges would change the attitude of the pension board.
By
Carl Nyberg, at 10:35 AM, November 26, 2005
Truth Serum says....
Hey I say let's put Genie in the fire with some handcuffs,,,,and put fire hose up Chrissy's you no what
By
Anonymous, at 6:14 PM, November 29, 2005
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