Santa Barbara Criminal Court Corruption: California Union's have an interest with my research that expose's fraud and corruption with the Public Pension System!

Monday, February 28, 2011

California Union's have an interest with my research that expose's fraud and corruption with the Public Pension System!

From: sb_magic@hotmail.com
To: sbcriminalcourtcorruption@gmail.com
Subject: FW: County Salary/ Union members ask why I do what I have about the pension.
Date: Mon, 28 Feb 2011 22:44:15 -0800

Last week I decided to reach out and start contacting State Unions who's contracts have been negatively effected by the pension crisis's. Guess what they have responded with some interest about my research. America is upset just look to Wisconsin for verification. Can One person really make a Difference to the World? Of course we can and Americans do so every day, One example of that would be called being a Parent! Because our future is always in the hands of our children! Wow I really like that example!

Time to believe in "Magic" I do!

Larry

Dear Sir,
I am so glad to receive your response and will try and answer your concerns. I am a 50 year old Father of two sons who went through an illegal divorce here in Santa Barbara 5 years ago. It was the learning curve of abuse through the criminal and civil courts here that I started reviewing policies and the politics of Santa Barbara. I have never been a County employee but I just did not believe a Pension that had performed so well could be having all these problems. I also do not believe every other County had they same problem at the same time. I have been an Internal Mortgage Sales Manager responsible for the Western United States in the past and knew Wall Street was ripping America off. In that case the excuse was Real Estate Mortgages in California we blame the public pension system.
It is not the stated Pension value that alarmed me, it was the math and percentages that alerted me fraud was being committed. Let me give you a real quick example.

In the 2000/2001 California State Controllers audit of the pension funds the LACERA fund reported assets per member @ 252,917.00$.

I was able to find that back in 06/30/1995 the LACERA pension had a value of just over 18 billion dollars. Now if you look up the LACERA fund history it had been reported to have earned 15.7% return on investments per year from 06/95 through 06/00. So lets do some simple math and round off and see what we come up with.

1995-18. Billion X 15.7 = 20.8 Billion

1996 20.8 X 15.7 = 24. Billion

1997 24. Billion X 15.7 = 27.88

1998 27.88 Billion X 15.7 = 32.25

1999 32.25 Billion X 15.7= 37.89 Billion dollars June of 2000

The interest earned for that short time period will simply not allow for these lies and embezzling it is that simple.

Yet in June of 2000 depending on your source of Value for the pension during that time frame you will get drastically different values

At http://www.sbcgj.org/2000/aud_fin.htm. the value was reported at 30.3 Billion Dollars but if we review this other source the value was being reported as just under 25 Billion dollars. http://www.sco.ca.gov/Files-ARD-Local/LocRep/retirement_reports_retirement0001.pdf Now if I am at 37 Billion being possible how in the world did we get down to 25 Billion?
You can see my full posting on this matter @
http://santabarbaracriminalcourtcorruption.blogspot.com/2011/02/lacera-breaking-down-math-and_18.html

Why should the current county employees be responsible for past actions by the Board of Supervisors? There is a “White Paper’ that attempts to clear up any concerns people might have had with the SBCERS pension written in 2006. My favorite part of the "White paper" written by County Clerk-Auditor-Controller Bob Geis is when he attempts to explain the practice of pulling excess funds" This is not an actuarial sound practice because "excess earnings" are not equivalent to surplus earnings". He than goes on to say how this practice takes from the pension fund but is than added back to the unfunded liability side at a new cost to the County. For Mr. Stoker I have included a attachment that shows elected officials and other Supervisors chose to pull “excess returns” at least 7out of 10 years during 1990-2000.

During my divorce I was exposed to the abuse of corruption by those who have the duty to protect us all from that type of treatment. Sir America is being ripped off and" We the People" keep getting billed for it. I guess I just want to make a difference.

I would love to share my other research and of course have a face to face with anyone who will have me.

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That data above is from my blog for the last 30 days but has also had almost 30,000 pages viewed to date. I have been on Santa Barbara County T.V. twice with a 3rd time coming up soon.

Regards

Larry Mendoza and please feel free to pass on anything I share with you.