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San Diego City Employees pension fund ailing
The one challenging the pensions in Orange County is County Supervisor John Moorlach. His challenge is actually different from Aguirre's. Moorloch challenegs the retroactive portion as illegal, as a gift of public funds for work already performed-and they were not at all in lieu of no pay raises. They were straight up pension spikes. Aguirre's challenge is based on a conflict of interest, because the ones doing the negotiating were also personally benefiting. So you have two mutually exclusive challenges. I think Moorlach has the stronger argument-but both have the potential to blow pension spiking out of the water. I wish they would rule on the two issues, especially in this fiscal climate.— January 25, 2009 11:52 a.m.
DeMaio’s Demands
JF-you are NOT middle class with your annual compoensation, not even close. Why do you try to claim you are? You're (ie, not you alone-all Gov employees) screwing the middle class. The connected few trying to get rich by making the unconnected many pay for your gold plated pay and benefits including illegal retroactive pensions. JF, including your benefits, virtually all PD and FF are making in or around $200K per year-that is in the top 3% of income earners in the nation-and this is not for a doctor, lawyer, CPA or some other highly educated and trained professional, but for a job that hires with a GED. Last, Lou Dobbs is on CNN everyday at 4PM, if you were to watch him you would see he thinks CA is extremely mismanaged.— January 24, 2009 9:37 p.m.
San Diego City Employees pension fund ailing
I would think one of the positive side effects of lowering the interest rate on the DROP account to 4 or 4.5 percent or so would to be induce some people to drop out. I don't think it would be many, though. It's too good -- outrageously good -- a deal to pass up. Best, Don Bauder =================== You're 100% correct, the DROP deal is so good no one should pass it up if offered-that's why it is only offered in Fantasyland....errrr... I mean Government.— January 24, 2009 9:30 p.m.
DeMaio’s Demands
JF, the benefits, specifically the pensions and SPSP, are the problem. They have to go. Here is an interesting read (in case you missed it); http://www3.signonsandiego.com/stories/2009/jan/2…— January 24, 2009 5:47 p.m.
DeMaio’s Demands
Sorry, one more link for this morning: http://www.signonsandiego.com/news/break... Dorian, pretty weak story to not cover "the other side" of the story. At least you should've researched DeMaio's numbers. I found all of these source documents in about five minutes. By JF 9:50 a.m., Jan 24, 2009 ======================= Actually JF, it is not that weak. The only argument you really have is the workers comp expense. Otherwise it is pretty close. I also bet you have all these links referenced just waiting to be posted! Bottomn line-structural defecit. The Fix, never ending taxes or less fringes. I'm going with less fringes.— January 24, 2009 1:33 p.m.
DeMaio’s Demands
He should not list some of those fringes-like workers comp- which is the only one that impacts the result-the others are less than 1% each and do not affect the outcome (one was less than 2/10's of 1%).— January 24, 2009 1:26 p.m.
DeMaio’s Demands
I didn't read the report, and if he is liosting Medicare he is wrong. I also do not see how unemployment inasurance can be listed as a fringe. Those are mandatory costs and not fringes. But the pension, holiday pay, sick leave, medical and dental-those are legit fringes-and I am sure those easily total the 62% number. You have a link, I need to read the report.— January 24, 2009 9:21 a.m.
San Diego City Employees pension fund ailing
I have to wonder this: How many people who voted for the ballpark, and thus the pension underfunding, are now screaming about the pension deficit? ====================================== Not me. Besides, the underfunding was allowed by YOUR union representatives. You allowed that underfunding for HIGHER benefits, with full knowledge it was a ponzi scheme bound to cave in eventually.— January 24, 2009 7:57 a.m.
DeMaio’s Demands
Many of the "fringe benefits" DeMaio speaks of are fixed costs. Not all, but many. For instance, insurance, worker's comp, etc. DeMaio compares the "percentage of salary" for these benefits to the "percentage of salary" of other cities. ===================== They are alll FIXED costs JF. Because they cannot be changed. The SPSP can be eliminated, as can all the other scams, but only for future hires. The only way to eliminate the scams for current employees is a BK filing. As for the "percentage of salary" nonsense, the benefit to salary is a ratio of the SD employee's wages and benefits-it has nothing to do with any other city or muni, and in fact I do not even think he mentions a comparison to any other city. The fact is the vast majority of employees in America receive NO benefits at all-so every SD city empolloyee is 62% ahead right out of the blocks-not counting the higher wages gov employees receive.— January 24, 2009 7:56 a.m.
San Diego City Employees pension fund ailing
See right here JF-the benefits are excessive-even the UT editorial board says so (so it must be true); City Council must focus on cuts, not tax hikes 2:05 a.m. January 23, 2009 - Looking for an easy way out of San Diego's intractable budget deficit, the City Council may be tempted to raise a variety of taxes and fees instead of taking tough steps to curb spending. But the inescapable reality is that San Diego confronts a structural deficit driven primarily by exorbitant pensions and other benefits for city workers. Without fundamental reform of the ****overly generous retirement system,***** tax increases would simply be devoured immediately by ever-rising labor costs, which are zealously protected by powerful public employee unions. The City Council cannot hide from the inconvenient fact that ****city workers still can retire with pensions that are significantly higher than their paychecks ever were.**** Why should economically struggling San Diegans raise their taxes merely to pay for public employee pensions that far exceed anything available in the private sector? (amen ^^^^^ to that JF!). http://www3.signonsandiego.com/stories/2009/jan/2…— January 23, 2009 6:39 p.m.