Comments on: Pension debt could sink River City

By: Marten Purdy

Marten Purdy — Fri, 11 Jan 2013 14:10:19 +0000

Debts and liabilities:
Someone with liabilities is incredibly good at lying. Can get any one believe anything at any time. Abilities are on par with lying greats such as George Costanza, Drake Parker, and George Bush.
( liabilities- they hold society together )

By: eatingdogfood

eatingdogfood — Fri, 11 Jan 2013 01:55:18 +0000

Democratic Hustler Politicians + Corrupt Greedy Unions = BANKRUPTCY BABY!

By: GoodDog

GoodDog — Thu, 10 Jan 2013 19:17:11 +0000

Don’t know what this is, but it certainly isn’t journalism. Quoting from this ‘article’:”Ya sure, we’ll be fine. You betcha.” REALLY? The OCR/CalWatchDog group/s reporters & editors are almost guaranteed to fall into a DSM Axis II diagnosis of one sort or another.

By: SeeSaw

SeeSaw — Thu, 10 Jan 2013 00:05:42 +0000

The amount that supports the Plan, Bob Smith, is the amount that goes to the Plan, which is required for both the employer and the employee–and it sure isn’t two to four percent. Its more like 19+ percent! The new pension reform legislation requires that every employee pay a specific amount of their own gross pay toward the pension now, if agreed to in the CB process, or by the year 2018, at the latest. The law sets a cap of 8% for miscellaneous employees and 11% to 12% for safety employees. Then there is still the amount to be paid by the employer, which is higher than the employee’s share. The total contributions to CalPERS, including both employer and employee amounts, at my former place of employement, are currently 23% for miscellaneous workers and 49% for safety.

By: Sean Morham

Sean Morham — Wed, 09 Jan 2013 20:40:38 +0000

I also believe Sacramento bills out of towners(insurance) for accidents(fire and police services). Of course, I am confident illegals get a free ride. What a F&^(#ng dump! Pitchforks rock.

By: Dirtbos

Dirtbos — Wed, 09 Jan 2013 19:14:14 +0000

More fuel for the fire under the financial melt down pot.

By: Hondo

Hondo — Wed, 09 Jan 2013 17:48:55 +0000

This bad news was known for a long time. Just like San Berdoo. Remember this last summer when ‘out of nowhere’, San Berdoo only had 240 thousand dollars in the bank( enough to fund one GED educated secretary and her pension) and had to file for bankruptcy. The city council there claimed the city manager ‘didn’t tell them’ how big their debt was for 13 years. They all knew. Just like Sacramento, it is 10 grade math. This website has been screaming about unfunded pensions for years now. They purposely plugged their ears to drown out the truth.
Well, Jerry Clowns wall of debt is here now, not in 5 or ten years from now. And there ain’t no more money left to steal. Brown is going to have to defund the welfare state and public education to fund the public union state, which, by law, has to be paid first.
Add in the effects of the huge tax increases just passed at all levels of govt form the feds on down to local cemetery districts, our economy is gonna catch it in the nuts.
Sacramento can’t possibly say they didn’t know. Katy has been screeching about this for years.
Hondo

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Wed, 09 Jan 2013 17:13:42 +0000

Sky just fell-AGGAIN.

Where’s Teddy Steals?? Oh, out playing with Waldo I bet 😉

By: Bob Smith

Bob Smith — Wed, 09 Jan 2013 16:50:15 +0000

“Most public employees only pay between 2 and 4 percent to their pension fund, an amount which cannot support such rich benefits 20 to 25 years later. Taxpayers will end up footing the bill.”

Have we forgotten that the salaries of public employees are also paid by the taxpayers? Why pretend that salaries come from a different source than pensions? It’s *all* going to be paid by the taxpayers, one way or another.

Expect the next round of union salary negotiations to include higher pension contributions from salary, but with offsetting raises to salary. Management will crow about how they’ve gotten union concessions on the pension contributions, but the actual underlying economics won’t have changed at all. Money is fungible, and it matters not to the taxpayers whether the money government extracts from them is accounted for in a “salary” bucket instead of a “pension” bucket.