LA fire, police pensions chief resigns

LA fire, police pensions chief resigns

There are 16 comments on the LA Daily News story from May 7, 2009, titled LA fire, police pensions chief resigns. In it, LA Daily News reports that:

The head of the Los Angeles Fire and Police Pension Commission resigned Thursday at a meeting in which commissioners voted to end their relationship with a Dallas-based firm under investigation by the Securities and Exchange Commission.

Join the discussion below, or Read more at LA Daily News.

anonymous

Los Angeles, CA

#1 May 7, 2009
Don't let Harrigan go to far he could be a flight risk. The justice department should look into all of the pension commissioners. This will become the biggest theft story in Los Angeles.

“America & LEGAL Americans 1st”

Since: Aug 08

Chatsworth

#2 May 7, 2009
And all this under the watch of our beloved Alcalde, Greasy Tony, El Mayor La Raza and the Spring Street Gang of 15. Oversight is not in any of their regular vocabularies.

So these pension funds, paid for by taxpayers are screwed up because of this little fiasco. What would you expect from the incompetence at City Hall?
AAA

Rancho Palos Verdes, CA

#3 May 7, 2009
We need a distinction between CalPers and the LA City and County pension systems. Most of CalPers is taxpayer funded because smaller cities offered city paid retirements. LA City and County workers pay a portion of their paychecks into their private pension system. In fact I believe the county borrows money from LACERA. For LA County workers, they pay 9% of their pay into their pensions and is fully funded by the workers.
LOL

Rancho Palos Verdes, CA

#4 May 7, 2009
AAA may be right, who knows. I don't mind footing the bill for firemen and policemen...but why do we have to pay for lazy office workers and clerical staff pensions..f that.

“America & LEGAL Americans 1st”

Since: Aug 08

Chatsworth

#5 May 7, 2009
AAA wrote:
We need a distinction between CalPers and the LA City and County pension systems. Most of CalPers is taxpayer funded because smaller cities offered city paid retirements. LA City and County workers pay a portion of their paychecks into their private pension system. In fact I believe the county borrows money from LACERA. For LA County workers, they pay 9% of their pay into their pensions and is fully funded by the workers.
OK but they will probably want the taxpayers to make them whole for any mismanagement by these criminals.
grant

San Francisco, CA

#6 May 7, 2009
A very sad story is about to begin if it is allowed to be told.
mvj

United States

#7 May 7, 2009
are we realy sock on this this mayor and his crooks in city hall , they are running from the fire ,
los angeles is run by the cartel they think by resigning thing will go alway this politicians dont have no morals they all are crooks and liars
i hope they all go to hell

“America & LEGAL Americans 1st”

Since: Aug 08

Chatsworth

#8 May 7, 2009
Where is Walter Moore when we need him!
LOL

Rancho Palos Verdes, CA

#9 May 7, 2009
West Valley Dave Smith wrote:
<quoted text>
OK but they will probably want the taxpayers to make them whole for any mismanagement by these criminals.
Probably, but when the market rebounds, and it will, this will just be a bump in the road for LA City and County Pension Programs. The real crime is pensions being given to (surprise I agree with anyone here) lazy administrators. Can we eliminate non public safety pensions? Military, fire, police...take your pension and thank you. Administrators, your pensions must go.

“America & LEGAL Americans 1st”

Since: Aug 08

Chatsworth

#10 May 7, 2009
LOL wrote:
<quoted text>Probably, but when the market rebounds, and it will, this will just be a bump in the road for LA City and County Pension Programs. The real crime is pensions being given to (surprise I agree with anyone here) lazy administrators. Can we eliminate non public safety pensions? Military, fire, police...take your pension and thank you. Administrators, your pensions must go.
I couldn't agree more. They should take their chances with 401K's like the rest of us.
Los Angeles

United States

#11 May 8, 2009
You people need to pay more taxes to pay for guys like this.....
==========
For years, Bruce Malkenhorst Sr. reigned as the highest-paid city official in California, riding in limousines and making more than half a million dollars a year as city administrator for the tiny industrial town of Vernon. Then the 74-year-old was charged with embezzling public funds.

But Malkenhorst still sits at the top -- this time as the retiree collecting the most money from the state’s public employee pension fund. Malkenhorst draws about $500,000 a year in state pension benefits, even as he awaits a trial.
point of view

San Francisco, CA

#12 May 8, 2009
Weiss is up to his eyebrows in this and if he gets elected there will be a major obstruction of the investigation if there isn't already.
Joe Garcia

South Gate, CA

#13 May 8, 2009
Don't worry. No one expects honesty or integrity from our version of Democrats. We elect Gangsters who are proudly anti citizen and known for their hatred of America and Americans in El Norte.
point of view

San Francisco, CA

#14 May 8, 2009
Los Angeles wrote:
You people need to pay more taxes to pay for guys like this.....
==========
For years, Bruce Malkenhorst Sr. reigned as the highest-paid city official in California, riding in limousines and making more than half a million dollars a year as city administrator for the tiny industrial town of Vernon. Then the 74-year-old was charged with embezzling public funds.
But Malkenhorst still sits at the top -- this time as the retiree collecting the most money from the state’s public employee pension fund. Malkenhorst draws about $500,000 a year in state pension benefits, even as he awaits a trial.
There apparently is no safer job with more benefits that getting rich off of ill gotten public funds.
point of view

San Francisco, CA

#15 May 10, 2009
They have stepped down because their duties interferes with their full time responsibilities on the Weiss election and fund raising committee.
Ann
#16 Aug 16, 2012
Dump the pension liability. Screw you Adam 12.

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