Concerns raised about retirement fund for CMPD officers

Retiring CMPD Officers are concerned they won’t get money they were promised. And the Deputy Chief who oversees the Police Pledge Fund says they are short. Now the big question is, where did the money go?

In a bombshell email sent to CMPD Pledge Fund Members, CMPD Deputy Chief Jennings writes, “There is a substantial shortfall related to contributions to the pledge fund.”

The voluntary program deducts $5 for each paycheck when a CMPD employee signs up. When it’s time to retire, members are promised $10 from each member of the program. Right now there are about 1,100 participants but over the past few years, CMPD says the number of members retiring is more than the Police Pledge Fund can pay.

Employees tell FOX 46 Charlotte there’s talk the money was borrowed from the account, dating back to when Chief Monroe was in charge of the department. He retired in 2015.

Right now the delay is about two years after retirement before a pledge fund members sees a cent. And CMPD says that wait could get even longer. According to a FOX 46 Charlotte source, some employees have gone to Human Resources to demand their money back. Others have spoken with the attorney.

FOX 46 Charlotte is scheduled to speak with CMPD Deputy Chief Jennings Thursday afternoon.