Reported 10 months ago
Thousands of Chicago police officers, mainly Tier 2 members who joined CPD after Jan. 1, 2011, are being asked to reimburse their pension fund for a payroll error triggered by a recent contract. The error, involving a retroactive salary contract payment counting toward the annual salary cap, requires officers to cover the shortfall plus 3% interest. The Fraternal Order of Police plans to address the issue, seeking to transfer the interest charge responsibility to the city.
Source: YAHOO