The El Paso police and fire pension board is at it again. You may remember that little group you are now funding because they voted themselves egregious COLA raises each year and have their money tied up in volatile, ill advised investments. You can read the latest HERE.
They are going to extend the contract of the guy who used YOUR MONEY to travel the country looking after his vast real estate portfolio. He is going to get a hefty raise and better benefits. The pension board is also hiring another person at $150,000 a year TO DO HIS JOB FOR HIM.
That's right. The executive director, who is supposed to be managing the money, has convinced the pension board to hire one of his buddies to manage the money. That sentence does make sense grammatically even if it fails logically.
The reason they need a new chief financial officer position is to help cover their shenanigans. It's just another layer to keep the light out. No transparency here.
And because the pension had a hard time lying to YOU about what they were doing with YOUR MONEY last year when it became apparent that they had screwed up again and lined their pockets, they're hiring a PR firm. Yep, that's right - they are using YOUR MONEY to hire a professional liar to lie to YOU. Don't you feel like a fool.
And don't think for a second that the pension money isn't funded mostly by YOU. So big did they screw up the pension in the past, now the taxpayers are the major contributors, not the workers themselves. This is literally a case of you funding a strangers retirement account every month because he drank away his paycheck... again.
To add insult to financial injury, the pension went to the state legislature to have a bill written so that city council couldn't vote against giving them money whenever they want it. They lobbied for a bill that would make fixing their messes automatic. No vote by council and no vote by you. Every time they fall short (which is every year now) the money is automatically taken from the general fund and desposited into the pension's bank account and there's not a thing you can do about it.
So where's city council on all this BS? Well, they have been bought off with police and fire union money and they won't say a word. Just look at them - a group that is split on every issue to the point physical altercations, but they all agree on one thing - you let the police and fire pension board do whatever they want at whatever cost. It's pathetic. They're more worried about campaign cash than the financial stability of the city. And believe me - this tax bill is up to 10 ballpark price tags already and is growing.
Don't expect the mayor to stand up. He has a family member that will be directly dependent on the police and fire pension. At least his conflict is of the heart and not of the campaign cash variety.
You are being robbed. This is ridiculous. And remember, if you object to them taking your money for this questionable pension, the local government has the authority to take your property by lethal force.
Your homework assignment is easy. I want you to ask any elected official in El Paso about this pension deal. You will be brushed off, told to shut up or completely ignored. I want you to post who you spoke with and how they treated you in the comments section. That way we can all see how powerful $1,000 campaign contribution is in El Paso. That's all it takes for an elected official to turn a blind eye to highway robbery.