How much money has the SBCERS Pension fund recieved in County funds from 1937 to present?

So after reading that the SBCERS Pension fund has had over 850 Million dollars added to it since 1989 it raises other concerns. If 850 Million is equal to 20 years of Employee and Employer contributions and the fund had a value of 225 million in 1989. That is equal to almost 1.1 Billion dollars in 20 years with out any further investment returns added from 1989 to present. So we alleviate 20 years worth of investment returns with an average return of 7.6% and we have another huge problem. When any normal investor receives a audit or statement of his or her 401k for example it is true you will get a +or – in regards to fund performance and value but there is one key statistic missing on most pension fund audits that I have personally reviewed. THE HARD DOLLAR COST PAID INTO THE FUND REGARDLESS OF TYPE OR INVESTMENT PERFORMANCE. So if we have had an SBCERS pension fund since 1937 what is the total hard dollar cost or contributions into the SBCERS pension fund for the 52 years prior to my research starting in 1989. I mean in 50+ years this county has had to have at least put another 150 or 200 million dollars in contributions, don’t you think? If you recall on my blog page I have a chart that reflects the amount of times “Excess returns” have been pulled from the pension fund and this chart clearly shows a positive return on investments except for a handful of times all the way back to 1937 and before. The charts are available on my blog @ www.santabarbaracriminalcourtcorruption.blogspot.com and you can double click on any color chart and it will be blown up for your review.




You see since 1989 we are contributing at a rate that could almost fund 3 separate pension funds. Also in the Los Angeles times I read a story where only police or sheriffs and firefighters receive the highest rated pension plan. An in Los Angeles county nobody else not even criminal prosecutors from the District Attorneys office are allowed into that safety pension plan. So my question; is our local District Attorney, Probation or even the Public Defenders office misusing there pension fund opportunities and how can we be sure?



As for those under funded pension fund amortization payments I mentioned yesterday I have a question. After you remove 15 sheriff positions or 7 police positions and than claim a savings of 150 million dollars in payments not needed down the road, how are those funds redistributed and when was the public going to be made aware of those possible future savings? You see even if all I found was 150 Million dollars in miss appropriated funds my work would warrant an investigation and possible criminal charges.



Take the pension fund value at any point in a time line for example 1969 or 1989 as I did. Add all the following years’ contributions and investment returns to bring a true fund value. Now if and when that math is completed and you did the same for the fund obligation based on the same time line and required investment return needed to keep said fund solvent 8.16% for SBCERS, than and only than can you see the solvency and years that may have required special attention. Furthermore I have yet to find a single person who can tell a true fund value if no log of “Excess Returns” and the location of missing funds. I am just amazed that tax payers are penalized because they benefits they offer over performed.



Just think Sunday what would happen when the Red Skins beat the Cowboys by 2 touchdowns over the spread. The Redskins refuse to allow 2 touchdowns to there totals because they exceeded there needs and your bookie failed to pay your bet off. I know makes no sense to me and neither do the random pulling of funds from an obligation the County taxpayers are held liable for and not our elected officials. Criminal charges must be looked into here in Bell North or Santa Barbara County California.