I must admit the canceling every fourth Tuesday meetings for 2011 does not surprise me by our Santa Barbara Board of Supervisors. There past poor management surely has played some type of role in the financial crisis that we currently find ourselves in. I am not saying the move was made so they would be able to work less oh no. The move was made so they would face less public scrutiny and reduce the risk the public might actually hold them accountable. How is less public interaction really beneficial to the County of Santa Barbara?
Have any of you every searched for a pension calculator on line? There are a vast selection to chose from but they all start the same. You see each web site I visited and put some numbers into all did the same thing first. They gave you the running total of what you as an employee contributed and what your employer contributed and what the hard dollar cost and results were. Funny I keep asking how much have we already contributed to the SBCERS pension in hard dollar cost!
So I called Santa Barbara Bell North when all the corruption story's were coming out last year. I have furnished some retirement data for your review. The funny thing is our top 6 exceeds what there top six is receiving from CalPers as we speak.
Have any of you every searched for a pension calculator on line? There are a vast selection to chose from but they all start the same. You see each web site I visited and put some numbers into all did the same thing first. They gave you the running total of what you as an employee contributed and what your employer contributed and what the hard dollar cost and results were. Funny I keep asking how much have we already contributed to the SBCERS pension in hard dollar cost!
So I called Santa Barbara Bell North when all the corruption story's were coming out last year. I have furnished some retirement data for your review. The funny thing is our top 6 exceeds what there top six is receiving from CalPers as we speak.
http://database.californiapensionreform.com/database.asp?vtsearchname=&vtsearchemploy=bell&vtquery=1&vttable=calpers
Name | Monthly | Annual | Employer |
CAMACHO, SERGIO | $8,862.94 | $106,355.28 | BELL |
CHAVEZ, MICHAEL | $9,669.88 | $116,038.56 | BELL |
PROBST, ANDREAS | $11,466.64 | $137,599.68 | BELL |
REED, DAVID | $14,356.08 | $172,272.96 | BELL |
STARK, MICHAEL | $8,702.81 | $104,433.72 | BELL |
TAVERNELLI, DENNIS | $13,538.28 | $162,459.36 | BELL |
Your search returned 6 records Records are sorted by Last Name, First Name | Total Amount for this Employer $66,596.63 Monthly $799,159.56 Annually |
http://database.californiapensionreform.com/database.asp?vtsearchname=&vtsearchemploy=santa+barbara&vtquery=1&vttable=calpers
TOP 6 FOR SANTA BARBARA Name Monthly Annual
KENT, JOAN $15,995.00 $191,940.00
GLAUS, RICHARD $13,274.79 $159,297.48
LOWRY, ROBERT $12,840.23 $154,082.76
VAUGHN, MITCHELL $11,999.76 $143,997.12
SZEYLLER, EDWARD $11,865.84 $142,390.08
AHLMAN, JOHN $11,616.61 $139,399.32
Your search returned 6 records Records are sorted by Last Name, First Name | Total Amount for this Employer $77,592.23Monthly $931,106.76 Annually |
To the Santa Barbara Board of Supervisors I ask these questions.
1- If you have had the report below since October of 2009 why are you acting as if this years budget deficit will help solve our problems?
2- What of the scenario below that shows even with all the additional funds used for the unfunded liability over the next 18 years we could still end up right where we are 1 billion dollars in unfunded liability?
3- Honestly if you never look at another posting of mine go to the link below and review the what the Board of Supervisors have known for over 18 months.
4- Please remember that these scenarios require 20 years of perfect investment performance just to reach these inadequate results, now who is crazy?
http://www.sbcag.org/Meetings/SBCAG/2009/10October/Item%206E%20Staff%20Report%20re%20SBCERS%20%20Investment%20Losses.pdf
STAFF REPORT
SUBJECT: SBCERS Employer Contribution Rates
MEETING DATE: October 15, 2009 AGENDA ITEM: 6E
STAFF CONTACT: Bobbi Didier
RECOMMENDATION:
Endorse the Executive Committee recommendation and the Retirement Board decision to
support Alternative Funding Option 2.
MEETING DATE: October 15, 2009 AGENDA ITEM: 6E
STAFF CONTACT: Bobbi Didier
RECOMMENDATION:
Endorse the Executive Committee recommendation and the Retirement Board decision to
support Alternative Funding Option 2.
SBCAG Contributions under Current Funding Policy
Total 5 yr variance = +16.66 %
Average annual increase (FY 2010-2014) = $76,024
SBCAG Contribution Rate Retirement Plan Cost
FY 2009-2010 21.60% $372,341
FY 2010-2011 30.99% 547,903
FY 2011-2012 31.90% 563,992
FY 2012-2013 33.76% 596,876
FY 2013-2014 38.26% 676,437
Total 5 yr variance = +16.66 %
Average annual increase (FY 2010-2014) = $76,024
SBCAG Contribution Rate Retirement Plan Cost
FY 2009-2010 21.60% $372,341
FY 2010-2011 30.99% 547,903
FY 2011-2012 31.90% 563,992
FY 2012-2013 33.76% 596,876
FY 2013-2014 38.26% 676,437
Alternative1
Alternative2
Alternative 3
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