Wednesday, February 9, 2011

LACERA 8 BILLION Dollar pension fund contradiction! Los Angeles County

  LACERA Pension Funds 8 BILLION Dollar Contradiction!
Real quick here let me share with you an 8 billion dollar contradiction of values for another California public pension fund. The LACERA pension fund shows a 30.3 billion dollar value in the chart below for the year ending 06/30/00. Well I was able to find that five years earlier on Wall Street the County of Los Angles was claiming the pension value was just over18 billion dollar
@  http://emma.msrb.org/MS121150-MS96458-MD187579.pdf (page 129)

So I simply multiplied the 18 billion dollars by the 15.7%  5 year average that is represented on the Santa Barbara Grand Jury chart below. My calculations show the fund value for 2000 should exceed 38 billion dollars and not just the 30 billion as was reported. California needs teachers and law enforcement counselors and relevant educational opportunities for our children . We should not be funding and refunding something the tax payers have already paid for.

California Counties With Assets In Excess 0f $800 Million
Annualized Returns for Period ending 6/30/00
Combined the Counties below had a yearly investment rate of return over a 5 year span of 14.84%
In other words during this 5 year window the funds in these Counties out performed there previous 50 years !
Or on average each of these California public pension funds grew 100% from there value on 06/31/95  
                             


COUNTY
ACTIVE PARTICIPANTS
FUND BALANCE (market value)
1 YR RATE OF RETURN
3 YR RATE OF RETURN
5 YR RATE OF RETURN
Los Angeles
88,420
$30.3 billion
15.2%
14.6%
15.7%
Orange
20,357
$4.8 billion
11.85%
12.70%
14.46%
San Diego
16,910
$3.7 billion
15.75%
14.59%
16.02%
San Bernardino
15,529
$3.6 billion
9.74%
12.70%
14.12%
Sacramento
10,547
$3.3 billion
9.54%
13.19%
15.41%
Alameda
9,859
$3.8 billion
10.88%
13.10%
15.36%
Contra Costa
8,475
$2.5 billion
6.6%
13.0%
15.7%
Kern
6,853
$1.4 billion
9.43%
11.4%
13.62%
Ventura
6,840
$2.1 billion
7.2%
12.9%
14.8%
Fresno
5,899
$1.3 billion
8.4%
11.8%
14.0%
San Joaquin
4,835
$1.3 billion
7.93%
10.17%
13.71%
Santa Barbara
4,500
$1.2 billion
6.7%
12.1%
14.5%
San Mateo
4,400
$1.2 billion
6.8%
10.5%
15.3%
Stanislaus
4,281
$900 million
6.58%
10.86%
13.49%
Sonoma
4,236
$928 million
8.78%
12.92%
15.81%
Marin
2,885
$955 million
10.7%
12.7%
15.2%




  You can find the Santa Barbara County Grand Jury report that this chart above was used in @
http://www.sbcgj.org/2000/aud_fin.htm.
If you are @
www.santabarbaracriminalcourtcorruption.blogspot.com
please click on the picture below and it will open up to it's own window.

Why will we so freely accept a 1 Billion dollar  UAAL debt until at least 2028, and not consider my theory that the money is not missing?
 I will soon focus on Santa Clara County's pension for my friends that fight for educational concerns in that county. Ventura county will follow that for my friends who work there. Below is a bad example of how the Santa Barbara County Board of Supervisors plan to deal with the SBCERS pensions future unfunded 1 BILLION dollar liability.
While reviewing the California State Controllers Public Retirement Systems Annual Report for 1998 I was stunned to find at that there are actually 20 years of prior reports that are currently archived. I have already mailed the Controllers office and am in the process of finding out what is required to obtain those 20 years of additional reports. That will cover 1978 through 1997, how exciting is that? You can go to the link below to see what is currently available.


Controller for the State of California Public Retirement Systems Annual Reports
Fiscal Year 2007-08 
         Fiscal Years 1979-97 (archived)
Posted by Magic at 10:10 PM

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