Top five posts of 2015.

Here are my five most popular posts of 2015.

Rahm screams at mental health activists, “YOU’RE GONNA RESPECT ME!”  82,000 page views.

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Pearson to become the gate-keeper for student teachers in Illinois. 34,000 page views.

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Breaking. Chicago officials are heading for Rahm’s office demanding release of donor emails. 26,000 page views.

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Teachers. Back to school but not back to Staples. 14,000 page views.

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Feds are expanding CPS investigation beyond BBB to corporate Chicago’s biggest names. Plus Rahm and Governor Private Equity. 12,0000 page views.

9 thoughts on “Top five posts of 2015.

  1. Fred,
    Happy New Year to you and Anne. Wish you both all the best in 2016! My thanks as well for your blog. You and your work provide a breath of fresh air for us all.

    Karl

  2. What is the Investment Policy of your Retirement Plan?

    According to the June 30, 2015 actuarial valuation report of the Chicago Teachers’ Pension Fund, the liabilities for persons in pay status (retirees, disability and beneficiaries) is $15 billion. Assets total to $10 billion. The Chicago Teachers’ Pension Fund is in a disbursement phase.

    When Fred Klonsky was working as a teacher, he may have been saving for his retirement. That is the accumulation phase. Now he is retired and he is in the disbursement phase.

    Following the advice of his investment adviser, the retired Fred Klonsky may have invested in interest-rate swaps and lost his shirt. He walks into the office of his investment adviser and threatens to sue him over his faulty advice. The investment adviser tells him to sue Bank of America.

    The Chicago Teachers’ Pension Fund is currently suing Bank of America over interest-rate swaps. Would Fred Klonsky have sued his investment adviser or Bank of America? Would Fred Klonsky have invested in interest-rate swaps in the first place?

    For the more information on the accumulation and disbursement phases of pension plans, see my article published on scribd called Actuarial Failure to Recognize Asset Depletion Risk of Baby Boomer Retirements Led to Death Spiral in Chicago Teachers’ Pension Fund. My article on the Chicago Police Pension Fund on scribd is similar.

    Also, in the June 30, 2015 actuarial valuation report of the Chicago Teachers’ Pension Fund, there is a miscellaneous income item of $943,946. That amount is miscellaneous when talking about the assets of Fred Klonsky too.

    What do think that miscellaneous item is?

    • Theo,
      You got a couple things wrong. Fred is not in the Chicago Teachers’ Pension Fund. Second, the funds are short because of the employer not putting the employer match earned by the teachers and other public employees into the funds. A form of pension theft by the employer. No other reason.
      Anon

      • Here is a hint. If the Chicago Teachers’ Pension Fund wins its lawsuit against Bank of America, the net proceeds (after payment of lawyer and other expenses) deposited into the trust fund would be a miscellaneous income item. If you telephone the Executive Director of the Chicago Teachers’ Pension Fund to ask him what this item is, also ask him about the gross settlement (the amount before payment of lawyer and other expenses).

        I was listening to an April 25, 2014 roundtable discussion involving actuary Jeremy Gold (available on his twitter). He said private sector pension plans were de-risking their portfolios. Who was buying these assets? Public sector pension plans. In other words, private sector pension plans are unloading their crap on you.

  3. Under Illinois Freedom of Information Act Requests in the August 20, 2015 minutes of the Board of Trustees meeting of the Chicago Teachers’ Pension Fund:

    Mr. Nick Verbitsky, of Blue Chip Films for PBS Frontline requested copies of e-mails received from ppfunds@nappa.org, and thelist@nappa.org. The request was denied because of privileged information provided within the e-mails.

    Anyone with an -sky at the end of their surname can’t be trusted.

  4. I’m disappointed that the Dyett Hunger Strike didn’t make the top five posts. Then, again, the issue is NOT over. Maybe when Chicago gets its elected school board, the tide will turn. Cheers and HNY!

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