Breaking News Feb 28th 2009-The Chicago Tribune has done several articles on the Illinois Funeral Directors Association Funeral Trust Scandal dated March 1st.
The Chicago Tribune failed to mention the big name in the situation, Senator-IL-Roland Burris. Burris was Comptroller in 1980 gave the IFDA their license for the fund. In 2007 he was a lobbyist for the IFDA involved with significant negotiations with the State of Illinois Comptroller’s Office. (Dan Hynes) This was over the IFDA Preneed Trust.
Here are the names of the two March 1st articles with links from the Chicago Tribune:
1.Illinois Funeral Directors Association faces questions over trust’s shortfall, management
State comptroller’s office continues 3-year investigation Link HERE
2.Funeral directors, Illinois comptroller’s office at odds over trust regulation Link HERE
Article one mentions that funeral directors assets are in jeopardy.The Tribune fails to mention that future funeral costs are likely to be past on to consumers due to IFDA shortfalls.
A snippet from the first article:
“Now, the funeral directors themselves face financial hardship. For guaranteed contracts, they have to absorb inflationary increases in the cost of funeral services they contracted to provide, in some cases years ago.“
A Snippet from the second article states that folks are outraged at the Comptroller Dan Hynes:
” The comptroller’s office discovered a $39 million deficit in the trust in 2005 that grew to more than $50 million last year.
Consumers and funeral directors are outraged at the lack of oversight“
Although the Chicago Tribune and the State Journal Register have done significant stories the story was first carried by World Net Daily on January 16th 2009.
Funeral Cost/Funeral Industry Blog by Your Funeral Guy.
(pic from istock photo)