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San Diego City Employees pension fund ailing
OK Kids, that's it for me tonight, Johnny "Troll" Vegas signing off to get hsi beauty sleep.(thanks for the new nickname JW!!!).— February 13, 2009 7:42 p.m.
San Diego City Employees pension fund ailing
Round 2 and 3 only happen if the plaintiff wants to continue. ===================== With litigation costs a mere $1.5-#3 million TOTAL, with a pay off of $500+ million, what on earth makes you think the case would not continue?? If the judge changes her ruling and goes against the sheriffs union do you think for one second they are not going to fork over $1.5 million to try to save their retroactive pensions??? Of course they will spend that-it is peanuts compared to the big pay off of $500 million. Get serious JW. Last=JF- I could pass any test you could pass, only I would perform better than you on every portion. That includes your SDFF test, which is not hard, intellectually or physically. Here JF, I have a challenge for you-why don't you take the LSAT and see if you can pass it.— February 13, 2009 7:39 p.m.
Names of $100,000 City Retiree Club
That defines 90% of Mr. Vegas'posts. He's an angry man. Johnny Vegas: SD Reader's resident Internet Troll. ============================ JW-I'll wear that comment from you like a Badge of Honor. Thank you.— February 13, 2009 7:29 p.m.
Names of $100,000 City Retiree Club
Johnny, please cut and paste the exact line from cossack post where he stated that his dad retired in the 1980's. =================== I never said his Dad retired in the 80's, read my post again. I have no idea when his Dad or brother retired, but they had a 1.5% at 60, and a 2% at 60 retirements. That is light years apart from a 3% at 50 retirement. One thing you don't understand about nepotism JF is the fact that a private company was BUILT by the owner-and they can hire whom ever they want- the SDFD (or any other gov agency) was NOT built by you or any other FF, and your claim that gov employees are entitled to nepotism (or cronyism) hires is pure nonsense. Everyone is entitled to have a fair shot at a gov job based on their qualifications-not their blood line or who they know. You need to figure that out. That is why SDFD and every other major FD in CA has been sued, admitted liability for such misconduct and entered into consent decrees to stop that misconduct, yet here you are giving it the thumbs up with another bogus argument- that because Dad, or brother, or uncle or (insert family relationship/connection here) works in the FD then their family gets priority. Sorry JF, gov employment does not work like that (or it is not supoosed to), but that is one reason it is so screwed up.— February 13, 2009 4:46 p.m.
Names of $100,000 City Retiree Club
JF-I got the 1.5% DB number from a FF off of the OC Register. So why would he lie? So read it for yourself-it is at odds with your past pension claims (2.99%@50), which have been proven to be bogus. Here, see for yourself, it is under the handle "cossack" in the comments section (and I think it was you JF that said there is no nepotism or cronyism in gov employment...bwhahahhaha, yeah right!); cossack wrote: "My dad was a retired firefighter. My older brother is a retired firefighter. I am an active firefighter. My dad retired under a 1.5% at 60 plan. My brother under a 2% at 60 plan and I am now grandfathered into the 3% at 50 plan. My dad had to work into his 60s to have enough to retire on, my brother until 58 and I will be able to retire at 90% of salary at 51 next year." http://www.ocregister.com/articles/county-benefit…— February 13, 2009 3:37 p.m.
San Diego City Employees pension fund ailing
Opps....I forgot to add in the comment about the lawsuit costs of $1.5 million. JW, the unlawful pension benefits total over $500 million in todays dollars-so do the math, if OC spends another $1.5 million for a total of $3 million to wipe out a $500 million dollar present day debt, that is a return of over 99 to 1 on money invested. That type of return even makes the DROP scam look pathetic. I'll take those 99 to 1 odds any day of my life.— February 13, 2009 2:46 p.m.
San Diego City Employees pension fund ailing
JW, since you obviously do not follow the news, let me help you out here with your missing link post. The judge in the OC pension case issued a "tenative", not a final, ruling. So there has been no final ruling issued in the case you cited above. Tenative rulings can and do get changed. Second, this is the first round in a 3 round fight, the starting line, not the finish line. There is only one round that counts in this fight, round 3-the final round at the CA Supreme Court. When it is all over the unlawful gift of public funds for work already performed and the violations against deficit spending will be wiped out, and all those deputies are going to get a pension haircut. My advice-prepay the rent on the doublewides now- while the cash flow is still coming in.— February 13, 2009 2:40 p.m.
San Diego City Employees pension fund ailing
As I have stated, the exception is the public sector unions, which have very little competition, foreign or otherwise. There is a very good question whether government workers, who have the protection of civil service, should be permitted to unionize. ================================= There is no reason for a nonprofit to be unionized. This is especially true in gov. Public unions are not subject to the law of supply and demand of a free market, which in and of itself is enough reason to bar public unions. Public unions operate in an artificial environment without the invisible hand of the free market to guide it (isn't that what Sam Adams said???).— February 13, 2009 11:36 a.m.
No Double Dipping
DeMaio repeatedly uses the catch-phrase "double dipping". I'd like your opinion, Dorian. If someone retires from the military and takes a second job are they "double dipping?" That's exactly what DROP is. ================================= No that is nto what DROP is. And when you put your life on the line all over the world for pay that can be as low as $1,500 a month like military personnel do then you can make such an argument-but you don't and you never will.— February 13, 2009 11:31 a.m.
No Double Dipping
DeMaio contradicts himself by correctly stating that the assumption rate is 7.75%, but then grandstands some more by repeatedly using the bogus 8% figure. ================= JF, if the 7.75% is COMPOUNDED, then you are wrong. A compounded 7.75% is easily over an 8% APR.— February 13, 2009 11:28 a.m.