Charlotte-Mecklenburg Police are now refusing to answer questions regarding a police retirement fund, and are deferring accountability to the city. In an email to Fox46 Charlotte, Lt. Brad Koch writes, “the Police Pledge Fund is not a CMPD entity.”
The Police Pledge Fund is a volunteer program where CMPD employees give five dollars from each paycheck and are promised to get ten dollars from every member when they retire. The problem is CMPD can’t afford to pay all retirees who are now on a two year wait list.
“It started to snowball and it’s going to continue to snowball,” said Deputy Chief Jennings who recently became Board President of the Police Pledge Fund.
Fox46 Charlotte has investigated the fund for four days and in that time CMPD has sent out three emails to police department members, first admitting the “substantial shortage.” A second email after Fox46’s report said “the shortfall is in reference to the way contributions are set up, not a shortfall in the fund.” And Monday’s email acknowledged they are “in the process of consulting attorneys.”
Last week, Jennings told us the fund was never advertised as an investment: “It was never looked at in the department or put out in the department as a financial investment.”
But one CMPD employee says, “We were told within 30 days you should be receiving your checks. That’s why you should invest in this because you are going to profit. I think the total you would put in is $7,800 and then you would get $11,000.”
CMPD has still not said how many retirees are waiting to get paid. We will continue to investigate, working to get results for the CMPD employees are still getting money taken out of their paychecks.