- Fiscal Year 1996-97 (Summary)
Tuesday, May 24, 2011
California's Public Retirement Systems Annual Reports for the followig Fiscal Years 2006-07, 2005-06, 2004-05, 2003-04, 2002-03, 2001-02, 2000-01, 1999-00, 1998-99, 1997-98, Made by the office of the Controller.
Now the other part of my posting yesterday was with the SBCERS pension fund has me patting myself on the back. There are still so many areas to research in greater detail but what I have already shared should be a wake up call for us all. Blindly I was able to construct a ten year model based on data I had obtained on my own to create a fund value that we can verify as correct. Even though we are talking about over a one billion dollars my fund value model was within 20 million dollars of there’s . So than I ask you all this; How can the first ten years of my value model for the SBCERS be spot on and the next ten years differ 2 billion dollars? Presently we are told that the pension has a value of almost two billion dollars with a future unfunded value of one billion dollars. Worse yet many experts feel that shortfall is here to stay at least until 2028( I will provide a chat that reflect just that) Yet my model and value says not only should we be 100% fund but that we should have a surplus of about a billion dollars.
We'll get back to that in just moment but for now I have some good news to share. 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 ReportsFiscal Year 2007-08
Real quick here let me give you a seven billion dollar contradiction of values for another California 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 4 years earlier on Wall Street the County of Los Angles was claiming a pension value in the 26 billion dollar neighborhood. So I multiplied the 26 billion by 14.7% for 4 years and the fund value for 2000 should exceed 37 billion dollars and not 30 billion. I will do a posting showing my research but do the math for yourself there is a seven billion dollar error. California needs teachers and law enforcement counselors and relevant educational opportunities for out children . We should not to be be funding and refunding something the tax payers have already paid for.
After I complete a detailed review of the 2000 pension fund value of Los Angeles I will focus on Santa Clara for my friends that fight for educational concerns in that county. Ventura county will follow that for my friends that work there.
Posted by Magic at 12:55 AM