Is SPD’s Pension Fund Doomed? Secretary Blames Mayor For Issues
The Secretary of the Shreveport Police Pension Fund Board, Bill Wilson, told KEEL News Thursday morning that the City of Shreveport has not contributed required funds into the Police Pension fund for the last 4 years, during the Perkins term in the mayor's office.
Wilson claims the city is negligent in their contributions to the Police Pension fund over the past 4 years to the tune of $1.3 million dollars.
We started digging into the files, and under state law, we're supposed to be compensated every year, from the city courts, a certain amount of money. Well, due to Adrian Perkins' mismanagement, and no leadership, they haven't put any money in our system for four years.
According to Lousiana RS 11:3712:
§3712. Appropriation of fund
A. All monies, funds, properties, real and personal, and assets now belonging to or due the presently existing Policemen's Pension and Relief Fund of the City of Shreveport shall be transferred to and shall become the monies, funds, properties, real and personal and assets of the newly created Policemen's Pension and Relief Fund of the City of Shreveport.
B. It shall set aside for the fund, twenty percent of all fines collected by its municipal courts for the infraction of municipal ordinances and ten percent of the money collected for licenses, privilege taxes, or permits for the sale of beverages containing alcohol. The municipality shall appropriate and pay out of its general alimony taxes, into the fund, annually at the beginning of the fiscal year, an amount equal to any deficit which occurs in the operation of the fund for the preceding year.
Acts 1968, No. 641, §2; Redesignated from R.S. 33:2352 by Acts 1991, No. 74, §3, eff. June 25, 1991.
When he asked the administration about the contributions, Wilson claims he was told they weren't going to pay it back, but he needed to ask the city council. Wilson told KEEL News Thursday:
"Due to the mismanagement, they have a management problem at the City of Shreveport, Adrian Perkins has surrounded himself with people that are incompetent, there's no leadership, he doesn't have a vision... I mean, we've been collecting this money for what... since '82... that's 40 years." Wilson continued, "this is what we call City 101, first they deny it, then they say let's have the city attorney research it, and then, kick it down the can, and then they accuse US of not telling them."
Wilson plans to address the City Council about the issue, possibly having to retain legal council to take action against the city to resolve the discrepency. This is an ongoing story and KEEL News will update with the latest information as details become available.