Comments on: Hoover conference reaches consensus on some areas of pension reform

By: Tough Love

Tough Love — Tue, 25 Feb 2014 19:02:00 +0000

In reply to Tough Love. From the attendee list, it looks like that 1/4 of the attendees included the CalPERS rep and likely the "In-The-Union's-pocket" Assembly members.

By: Tough Love

Tough Love — Tue, 25 Feb 2014 18:38:43 +0000

Quoting …”At the conference, three-fourths of the attendees agreed with the statement: “Amending the ‘California Rule’ to allow the state and/or localities to adjust pension benefits going forward would make meaningful reform more likely.”

What’s astounding is that ANYONE (let alone 1/4 of the attendees) would NOT find that such a change would …”…would make meaningful reform more likely”

Clearly ALL of those 1/4 of the attendees have a vested interest in maintaining this CLEAR Taxpayer ripoff, likely because either they or a family member are riding the Public Sector pension gravy train.

By: john M. Moore

john M. Moore — Mon, 24 Feb 2014 20:43:02 +0000

The “scholars” simply do not understand the extent of the pension mess for public agencies that issued pension bonds prior to the 2007-9 financial fall.About 1/3 of the proceeds were lost by CaLPERS, creating, in general, a new deficit of about 2 1/2 times the principal on the pension bonds. So now those entities pay large annual sums for the bonds and have a new deficit that grows at the actuarial investment rate(7.5% per year). Here in Pacific Grove, where services have been cut by 2/3, and new taxes and fees are a regular event, that combination still does not begin to off-set the growth of the new unfunded deficit. And it never will. It is mathematically impossible. The situation is unsustainable by every measure.

By: SeeSaw

SeeSaw — Sun, 23 Feb 2014 17:21:45 +0000

Bi-partisan?

By: James Pate

James Pate — Sun, 23 Feb 2014 15:53:34 +0000

The current pension problems are a result, most proximately, of three issues: 1. Large scale socio/economic trends. 2. Official corruption. 3. Mismanagement on a staggering scale.
The proposed changes in the pension “system” will have no effect at all on the basic issues. Indeed, they would be another iteration of the problems.
The participants in this conference, looking at their various position papers and statements, reflect amazingly ignorant academic gobbledygook, and the opinions of the purveyors of the corrupt, incompetent political/managerial class that created the problems.

By: Queeg

Queeg — Sat, 22 Feb 2014 17:18:58 +0000

Donkey poor chap.

The Ragwus in Sacramento has a 15 billion budget shortfall per financial rating agencies.

Chaw on that.

By: Donkey

Donkey — Fri, 21 Feb 2014 22:55:04 +0000

The RAGWUS system is unsustainable under the current conditions imposed by the Unions and their political pets. In the end the math will solve this fraud placed upon the have-not private sector taxpayers. 🙂

By: SkippingDog

SkippingDog — Fri, 21 Feb 2014 01:00:14 +0000

Even though the conference attendees were heavily weighted toward the shills of the anti-public pension movement, such as Nation, Pellisier, Reed, etc., you still seem to have ignored the findings numbered 5 through 9.

Why was that?