Thursday, October 11, 2018

KANSAS CITY HELP WANTED: CITY HALL DESPERATELY SEEKING CONSULTANT TO SAVE DWINDLING PENSION FUNDS!!!



Over the past few rainy days a great deal of Kansas City has been underwater . . . The same can be said of local finances which threaten to sink under the burden of rising of KCMO pension costs that are unsustainable given this town's growing debt to revenue ratio.

What's the answer????

Some say privatization of more city services while others believe grandfathering the end of the current pension system will provide the solution. The discussion can be dry and dire . . . Here's the local call for expert opinion . . . 

Kansas City, Mo., wants consultant to help the city’s pension task force

Deets:

"The city is seeking a consultant to advise and assist the city's pension task force appointed by Kansas City Mayor Sly James to ensure the financial sustainability of the $1.1 billion Employees' Retirement System, $880 million Police Employees' Retirement System, $512 million Firefighters' Retirement System and $142 million Civilian Employees' Retirement System of the Police Department of Kansas City . . ."

Developing . . .

14 comments:

Anonymous said...

1st thing to ask, Is the money really there ?

Anonymous said...

A consultant is someone who borrows your watch to tell you what time it is. Stop paying for consultants.

Anonymous said...

Police and fire get exorbitant pensions, about $5000 a month plus medical paid, that’s where it’s going, the regular city employees get about $1200 a month and have to pay their own health Ins. You tell me who’s getting all the money

Anonymous said...

stop the socalled economic development projects that also line the pockets of consultants and former politicians and current politicians hidden under shell corporations.......which never result in additional city hall revenue, but which are backed by the city's general budget and the full faith and credit of the city.

Anonymous said...

"pension task force appointed by Kansas City Mayor Sly James"


LMAO

Anonymous said...

public pensions are likely to be the source of the next, real depression, imho.

Anonymous said...

Is this Slicks last act as Mayor? Insuring his pension is secure after ripping people off for the past seven years in every form imaginable?

Anonymous said...

Yes, plus the local pols PORTRAY whatever the "outsider/consultant" recommends as "expert" advice, while the electeds PRETEND they're not to blame for being the lackeys and laggards who contribute to the fiscal FUBAR.

Anonymous said...

@9:58 - do you really think Sly cares about any measly pension from the City?

No, don't worry about Slick Sly, his "Bribe-Oh-One-Kay" account is in really good shape!

Anonymous said...

You can't have an employee work 30 years and then pay them not to work for another 30 years. That's essentially what many of the public pensions do. With that said the city is legally bound to pay for past services and no consultant can change that.

Anonymous said...

Join MO Lagers like other municipalities.

Anonymous said...

If the City goes broke, which is where we are headed, the Feds will come in and settle the pension debt at .15 on the dollar. They had better all get back to the table or the end result will be disastrous for the pensioners. Current pensions need to be renegotiated and new plans put into place. Maybe 401Ks.

Super Dave said...

Whats really needed is a audit of the whole city to show where all the tax dollars have gone and all the places on record not paying a dime in taxes are at.

Anonymous said...

Every pensioner will be given stock in the streetcar in lieu of cash.