State surplus could help pay down pension loan
The Public Deposit Insurance Fund was created to insure public funds on deposit at Indiana banks for amounts of more than $250,000 (the FDIC limit in case of a bank’s failure).
This fund was financed by assessing Indiana banks, not by taxpayers’ dollars. The fund is administered by the state treasurer.
According to an independent certified auditor’s report dated Oct. 15, 2011 by London Witte Group LLC, covering years ending June 30, 2011 and 2010, transfers were made since June 30, 2011 to police and firefighters pension funds totaling $97,931,300. An interest-free loan of $50 million was made to the state general fund from a FDIF that was due on Jan. 1, 2013. Instead of paying off the loan, it was extended to Jan. 1, 2023.
I have a high regard for our police and firefighters; however, the question I have is why a deposit insurance fund is supporting police and firefighters’ pension fund?
If the state has a surplus, why is this $50 million loan not being reduced or paid off?
Since the FDIC transaction account program, which guaranteed all non-interest bearing accounts dollar for dollar, expired on Dec. 31, 2012, transfers that do not address deposit protection should stop. PDIF accounts should be allowed to grow and protect citizen’s public funds.
BOB JAROLIM LaGrange
Politics of abortion all that keeps it legal
On the 40th anniversary of the abortion ruling, Rep. Marlin Stutzman made the statement that if President Obama really believes a great nation must care for the vulnerable, he should stop this senseless slaughter of innocents.
Stutzman knows there isn’t a president, senator or congressman who can stop abortion. It is the law of the land, made so by the U.S. Supreme Court.
If abortion weren’t made a political issue, it would have been done away with a long time ago. But they are winning elections on this issue, so it’s not going to stop.
ALICE BARILE Fort Wayne
Destiny Rescue frees child sexual slaves
Recently I became a volunteer for a Christian nonprofit organization, Destiny Rescue. Destiny Rescue has a 10-year goal of freeing 100,000 children from sexual slavery.
There are an estimated 26 million slaves in the world today. Some 1.6 million children are sold as sexual slaves with the most horrible kinds of evils performed on them for great profit. This is one child per every six seconds becoming a sexual slave for life. Destiny Rescue, a biblically based Christian nonprofit group, is rising up against this great evil and has already freed hundreds of children from their evil profiteers. Destiny Rescue not only rescues the children but also provides care for their lives, provides them with Christianity and life-skills training.
Destiny Rescue needs the church of Jesus Christ to come to life in team support of this effort. We are the protectors of those who are innocent and cannot protect themselves. Our U.S.-based office is in Syracuse. Please consider engaging one of our staff to come to your church, business or other group to explain how you can join our rescue team.
If you are interested, please email me at Phonehero@hotmail.com.
STEVE MATTHEWS Warsaw