Action News has learned several Fund employees are in line for pension benefits the board established itself. But the city says wait a minute, that's not even legal.
Action News found out ten or so years ago, the Police and Fire Pension Board established an internal pension fund for its own employees. But until an audit came out showing it existed, city council had no idea.
Set up under the city's nose, City Council President Bill Bishop says a pension fund designed to benefit Police and Fire Pension Fund employees isn't legal, even though two people are currently cashing in. And Action News is told it is a substantial percentage of their salaries.
"And that got people thinking well how did that get started could they do something like that did they have the authority to do something like that," said Bishop. "Especially when you look at the benefits being offered as a result of that pension."
The only other person on the list to qualify is the Pension Fund's Executive Director, John Keane. Action News reached out to Keane for comment. Our calls went unreturned.
"What makes it really interesting is the large amount of money that he would be entitled to under this pension which just exasperates the whole issue of his compensation package," said Bishop.
Part of the issue is whether these employees can qualify for state or city pensions. Bishop says they're public employees so they should be entitled to some sort of pension plan. Now the city's digging deeper to figure that out, and fix the problem because bottom line Bishop says what's happening now is unacceptable.
Action News also reached out to the city for a comment from General Council. We were told the city's policy is that they do not discuss issues and strategy involving potential litigation.
Bishop says the general council is talking with the pension board about this and hopes they can resolve it without legal action.
