Message From Attorney Krislov regarding Retiree HealthcareRead More
Topics will include:
- Why Police Officers in today’s world need to protect the nest egg that they have built
- What exactly is “Asset Protection”
- Elements and Goals of a good Asset Protection Plan
- Timing on implementing an Asset Protection Plan, including a discussion of Voidable Transactions (f/k/a Fraudulent Conveyance)
- How to protect specific Assets:
o Personal Residence
o Cash Assets
o Business Assets (i.e. rental properties, etc.)
o Retirement Assets
- Avoiding Critical Mistakes after an Asset Protection Plan is in placeRead More
The murder trial of the Chicago Police Clifton Lewis begins today. If you are at 26th and California, at 1100 hours, please try to stop into Judge Reddick's court room number 206.
Again, we are looking for a very strong, blue showing in support of the Lewis Family. Please stop in if you are in the building.
Retiree application forms must be maintained forever by State Law. The records in a storage vault that was broken into recently are from a time frame spanning 1920 - 1950. The retiree applications are from people who retired during those years.
One box was opened and it was the applications from the 1920's. The thief did not take anything, did not open any other boxes and moved onto the other storage units.
The records in those boxes are too fragile to scan. With the State Law, a file remains open until the last check is given to the annuitant, spouse of dependent. Only then can the file be closed. Only one box was compromised.
This is the explanation provided to us by the Pension Fund.
The Appellate Court decision is out and here is a synopsis of Clint Krislov’s interpretation.
- The covered class entitled to lifetime benefits including all of Class 3 and most of Class 4 that means anyone hire before June 16, 2003
- Everyone who became a “participant in the system” (hired before June 16, 2003) by the 2003 settlement is entitled to lifetime benefits
- The ruling includes Class 1, 2,3 (hired by August 23, 1989) and most of Class 4 (post August 23, 1989 hires)
- The Appellate Court views the only protected benefit is the $55/$21 a month contribution for Police and Fire and $25 a month for Laborers
- The ruling doesn’t address those hire before April 1, 1986 who do not qualify for Medicare.
There is 35 days to appeal to the Illinois Supreme Court.
The fight continues.