SEIU Pension Fund Plan

Statement

Dear Mr. Kaiser:

Thank you for your time in interest to my matter here to discuss with you. I am hoping that you would be able to provide us (the people of the city of Jacksonville, FL,) with the details of your SEIU Pension Plan in order so that we might be able to adopt it to our local dilemma of the current unaffordability of an Unfunded Police/Fire Pension Plan being faced by our taxpayers; (and i.e; the working poor and otherwise exploited masses, pensioners living on a fixed subsistence income, single mothers with children to raise and care for, the unemployed, and others of marginal finances to survive being here sacrificed to the Police/Fire Golden Cash Retirement Cow and in the dire meaning of the ethics involved of it having to be paid for.)

That, according to the Taxation, Revenue and Utilization of Expenditures (TRUE) Commission SPECIAL PFPF PENSION FUND REPORT dated October 2013 we are being stuck with an "untenable" Unfunded Police/Fire Pension System that we have to raise our city "sales tax" and sacrifice needed services to pay for, and that is increasing with each passing year.

This sort of "Unfunded PFPP" has already "Bankrupt" several major cities across America and is obviously unrealistic and unaffordable, (however well deserved,) and in need of drastic immediate action to correct. Errors do get made in the course of doing political business that need to be corrected with those already retired to adjust their retirement incomes to accordingly.

The key here being the word "Unfunded" in which the employees Retirement Income is derived "directly" from the Taxpayers, and not from employee/employer contributions and earned investment income, of our city therefore of having to foot the bill for each retiree of the system after only twenty years of service, at age 42, at 40% of their annual income (median $55,000,) from the time of their separation of service for the rest of their lives; which is modern times with proper nutrition and modern medicine, and with people living longer in the actuaries, that could range up to 40 years or more of payout, and with a substantial number of Police Fire retirees piling up (at $30,000 a year-plus retirement incomes,) to defeat the resources of the city.

What we are looking for is the actual wording of your SEIU Retirement Contract specifying: (1.) the percentage amount of the individual employee contribution, the amount of the employer (i.e. government/taxpayer,) contribution, (2.) how in general way that the retirement income is invested and what the investment return is, (3.) what the age limits are for vested interest, and (4.) at what age the retirement income is paid out with rates of expectation in dollar amounts.

Thank you so much for your cooperation. Here is the pdf link for the 2013 TRUE Report.

http://www.coj.net/city-council/docs/true/report-2013-10-pf-pension.aspx

Most Sincerely,

Source