This posting will be short and sweet and I will start by asking; do you really think the economy of California can allow the California Public Pension system to continue down this reckless path?
Well not if the LITTLE HOOVER COMMISSION has anything to say about it. You can read all
about there reform ideas in there publication entitled PUBLIC PENSIONS FOR
RETIREMENT SECURITY February 2011 and it can be found @
http://www.lhc.ca.gov/studies/204/Report204.pdf
or at my other blog @
http://magicinsantabarbara.wordpress.com/2011/06/05/the-little-hoover-commission-public-pensions-for-retirement-security/
Right now I will be providing various charts graphs and data that was created by the SBCERS pension board for your review. I will add a brief caption with each document about the facts and figures found on them. If you are viewing these documents @ www.santabarbaracriminalcourtcorruption.blogspot.com you can double click on any document and it will open up to it's own window. This makes it easy to create a copy or file for yourself.
Real quick is the fact that our SBCERS pension only have a 73% funded ratio the real concern? Or the 61% funded ratio at Market Value for year ending 06/2010 what we should be looking at?
This is a directory of links to Federal, State, County, and Municipal government salary and name data base.
If you are interested in the 2011 budget go to this link and look at how much overtime and other is paid to County firefighters
........................................................Salary...............O.T...............Other..........GROSS
| Team/Project Ldr-Batt Chf Shft | Fire | $121,444.96 | $62,432.38 | $10,118.12 | $193,995.46 |
| Team/Project Ldr-Batt Chf Shft | Fire | $120,271.32 | $57,058.66 | $14,694.24 | $192,024.22 |
| Fire Eng Inspector Shift | Fire | ...........$77,395.24 | $67,204.77 | $18,287.01 | $162,887.02 |
| Team/Project Ldr-Batt Chf Stf | Fire | $120,856.78 | $32,529.55 | $9,725.65 | $163,111.98 |
| Asst Dept Ldr-Fire | Fire.................... | $147,048.39 | $0.00 | $18,518.65 | $165,567.04 |
| Team/Project Ldr-Batt Chf Stf | Fire | $101,864.00 | $53,247.75 | $11,155.88 | $166,267.63 |
| Fire Captain Staff | Fire | .....................$89,440.00 | $44,849.28 | $33,153.46 | $167,442.74 |
| Fire Equipment Oper Supv | Fire | .......$94,013.91 | $51,510.74 | $23,206.24 | $168,730.89 |
| Fire Captain Shift | Fire | ........................$89,440.00 | $54,033.55 | $31,335.46 | $174,809.01 |
| Fire Captain Staff | Fire | .........................$89,439.85 | $55,282.30 | $31,727.41 | $176,449.56 |
| Team/Project Ldr-Batt Chf Shft | Fire | $121,444.96 | $50,171.12 | $10,118.12 | $181,734.20 |
| Team/Project Ldr-Batt Chf Shft | Fire | $116,480.00 | $55,098.00 | $14,388.04 | $185,966.04 |
http://www.mercurynews.com/salaries/socal/2009?appSession=853014013641080&RecordID=&PageID=2&PrevPageID=&cpipage=1&CPISortType=&CPIorderBy=
2009 Santa Barbara county wages
Compare to the data @ the California State Controllers web site
http://www.countyofsb.org/uploadedFiles/controls/news/RequestedByNewsMedia_20100823.pdf
SB County Employee Pay Related Info (Calendar Year 2009) 8/31/2010 9:02 AM
Department Job Title Annual Base Salary YTD
The charts and pictures below are hard to argue with.
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| Based on this data we have a well performing fund |
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| When you add 2010 returns to these figures you get a 21 year performance with an average rate of return at 8.4%. How could we even be under funded when you consider the 7.6% 20 year average has 26& loss in the last two years. |
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| When the portfolio and assumption rates meet you have a 100% funded Pension |
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| Why dose this graph not match with the one before it? They both represent the same time period and fund. |
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After reviewing this chart I am left to wonder where all the excess funds disappeared to. As late as 1988 the fund ratio was only 57%
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