Law Enforcement, Firefighters React To Reporting That Mccormick Screwed Over Pensions

PENNSYLVANIA — On Sep 12th, Montgomery County Sheriff Sean Kilkenny joined firefighters and law enforcement to react to new reporting detailing how David McCormick screwed over police and firefighters as a hedge fund CEO. His firm’s leadership contributed to higher retirement costs for police officers and firefighters and led to hundreds of police officers resigning.

“Law enforcement officers have more than earned the pensions they receive. We need leaders who will fight for our benefits, not fleece them,” said Montgomery County Sheriff Sean Kilkenny. “By prioritizing his profits over hundreds of police officers, David McCormick has shown us exactly who he is willing to fight for – himself and his own bottom line.”

“It is disgraceful that someone would take advantage of police and firefighters by charging them unreasonable fees to manage their retirement funds only to lead to those benefits being cut,” said Guardian Civic League President Crystal Williams-Coleman. “Pennsylvanians deserve leaders that won’t put their bottom line ahead of working families.”

“David McCormick has a long record of putting his bottom line ahead of everyone else, so it’s no surprise that he screwed over police and firefighters pensions while charging them outrageous fees,” said Pittsburgh Fire Fighters Vice President Tim Leech. “We can’t trust someone that forced cuts to the hard earned benefits of first responders.”

Read More About David McCormick Screwing Over Police and Firefighter Pensions:

As CEO of Bridgewater, McCormick oversaw the mismanagement of police and firefighter pensions that contributed to hundreds of police officers leaving the force.

• Due in part to Bridgewater Associate’s mismanagement, police and fighter fighters saw their retirement costs go up and their pensions nearly financially collapse.

• In addition, police officer and firefighter pension benefits were cut, costs of living increases were eliminated, and the retirement age was raised.

• More than 400 police officers later resigned.