13th Check

I just found out that my DROP account will not be getting my 13th check ($6,000). The Pension Board has decided to withhold paying me my benefit. What is happening?? How can the Board stop my benefit? What's next. Is the Board punishing me because of the retirees law suit? Who is in charge anyway.

The PBA needs to act on this now, we have a contract with the Board and the PBA. I want my money.

It's no surprise to me. Hope I am not dead when they get around to sending me that check. Oh!!!! If I'm dead then my wife only gets $3,000, Good Work Trustees. With Trustees like you guys who needs to worry..............

You guys already spent your 13th check, in the form a frivalous lawsuit based soley on greed. Whoever decided not to send a 13th check deserves a medal in my book!!!

I have herad that since the 13th check took effect very few have actually got one ! Any input from anyone on this?

Currently Dropped - Are you just figuring this out? If you are dropped, you are retired and have no say in the actions of the F & P Pension Fund anymore. Oh yeah, let me guess - you thought the PBA was there to represent you! :lol:

Wrong again! Remember, they represent the Actives. It doesn't matter if you still pay your dues or not. The PBA represents the majority of the officers - which you are no longer a part of.

It is unfortunate that so many people are going to have to be personally adversely affected before they get the gist of the lawsuit. Wake up and get on board. If you are dropped, you should be a member of the retirees' association. Someone needs to be watching out for you.

Good Luck!

Geeze, why dont you retired guys go try to bait someone elsewhere! Im dropped , and the Pension did the right thing. Theres now an appeal, so the right thing to do is hold off on the 13th check because they may have to pay out if an appeal goes the other way. Too bad the majority of the retirees wont get the benefit right now, but they can take that up with the lawsuit guys! The Pension trustees would have been scolded if they had paid out a 13th check before the issue was completely settled, then went the other way. All you guys crying are just the ones who need the cash to give to your lawyer anyway, so he can Continue to sue the rest of us!!

First is was not a LAWSUIT it was a Declaratory Action requesting a ruling on a conflict of prior board action regarding losses and where the losses to the fund come from. Twice the board followed the standard and took losses from just the base fund. Then it changed after 911 the losses came from the base and the cola fund.

This change is in confict with prior actions of the board. A judge has ruled and now it is being appealed. If the ruling were to have gone the other way do you think the board would appeal!!!!!!!!!

Now the board is holding funds illegally. Those funds have been earned by the fund and bargained for by the almighty PBA and became law. The trustees advise the reason is so not to cause a negative impact to the plan in the event the ruling is overturned. Where was this concern when they took losses from the cola fund!!!!

If the trustees are concerned what is to prevent them from stopping the 20 and out benefit or the 10 year vesting benefit, you see once they start it will not stop.

Ask yourself this if they can stop a bargained for lawful benefit due the members in DROP and the retirees just in case they lose an appeal sometime in the future. This is outragous. The 13th ck can not be held hostage to help pay for a possible repayment in the future. It is a BENEFIT not a reserve.

We all have vested rights and contracts don't sit by and allow the trustees to act as gods and take benefits from you.

And last I bet all I own if they took your 3.15% benefit and reduced it to 2.5% Your @#&* #@* would be the first in line to file a lawsuit or ask the PBA for help.

WHERE IS THE PBA anyway.....

That's why they are over here again hiding under anonymous posts.

First is was not a LAWSUIT it was a Declaratory Action requesting a ruling on a conflict of prior board action regarding losses and where the losses to the fund come from. Twice the board followed the standard and took losses from just the base fund. Then it changed after 911 the losses came from the base and the cola fund.

This change is in confict with prior actions of the board. A judge has ruled and now it is being appealed. If the ruling were to have gone the other way do you think the board would appeal!!!!!!!!!

Now the board is holding funds illegally. Those funds have been earned by the fund and bargained for by the almighty PBA and became law. The trustees advise the reason is so not to cause a negative impact to the plan in the event the ruling is overturned. Where was this concern when they took losses from the cola fund!!!!

If the trustees are concerned what is to prevent them from stopping the 20 and out benefit or the 10 year vesting benefit, you see once they start it will not stop.

Ask yourself this if they can stop a bargained for lawful benefit due the members in DROP and the retirees just in case they lose an appeal sometime in the future. This is outragous. The 13th ck can not be held hostage to help pay for a possible repayment in the future. It is a BENEFIT not a reserve.

We all have vested rights and contracts don't sit by and allow the trustees to act as gods and take benefits from you.

And last I bet all I own if they took your 3.15% benefit and reduced it to 2.5% Your @#&* #@* would be the first in line to file a lawsuit or ask the PBA for help.

WHERE IS THE PBA anyway.....

The 13th check is not a guaranteed benefit. It is given out if the fund is healthy enough. Thanks to greedy retirees and their lawsuit, it is not healthy enough, therefore the greedy retirees can wait. It is your own fault you are in this situation. I hope the PBA goes further and sues for court costs every last one of the retirees that attached their names to the suit. You guys gambled the Pension would crumble under your threats and you lost. As a wise old chief once said " Suck it up".

You are again proving my point, you do not have the correct information to respond. The ck was not part of the action. and the funding was changed based on investment returns. the 11th,12th and 13th percentages are dedicated to the funding of the 13th ck, nothing else. If the fund does earn that much no ck. Last yr it did. So the funds are there to only be paid as a 13th ck.

The fire union created this method getting the city out of their first yr of contributions to the ck undere the old method. Oh,,,because of that they received the highest pay increase in their history due to the savings to the city.

Get informed.

Find out the facts before you make a fool of yourself again.........