2009 SBCERS pension report says even after another 18 years of additional payments the SBCERS fund couls still have a Billion dollar deficit!

Pension Battles why is there no REAL REPORTING in Santa Barbara? Are you kidding me the Santa Barbara Board of Supervisors really canceled every fourth Tuesday meeting for 2011.

I must admit the canceling every fourth Tuesday meetings for 2011 does not surprise me by our Santa Barbara Board of Supervisors. There past poor management surely has played some type of role in the financial crisis that we currently find ourselves in. I am not saying the move was made so they would be able to work less oh no. The move was made so they would face less public scrutiny and reduce the risk the public might actually hold them accountable. How is less public interaction really beneficial to the County of Santa Barbara? 

Have any of you every searched for a pension calculator on line? There are a vast selection to chose from but they all start the same. You see each web site I visited and put some numbers into all did the same thing first. They gave you the running total of what you as an employee contributed and what your employer contributed and what the hard dollar cost and results were. Funny I keep asking how much have we already contributed to the SBCERS pension in hard dollar cost!

So I called Santa Barbara Bell North when all the corruption story’s were coming out last year. I have furnished some retirement data for your review. The funny thing is our top 6 exceeds what there top six is receiving from CalPers as we speak.

http://database.californiapensionreform.com/database.asp?vtsearchname=&vtsearchemploy=bell&vtquery=1&vttable=calpers

Name
Monthly
Annual
Employer
CAMACHO, SERGIO
$8,862.94
$106,355.28
BELL
CHAVEZ, MICHAEL
$9,669.88
$116,038.56
BELL
PROBST, ANDREAS
$11,466.64
$137,599.68
BELL
REED, DAVID
$14,356.08
$172,272.96
BELL
STARK, MICHAEL
$8,702.81
$104,433.72
BELL
TAVERNELLI, DENNIS
$13,538.28
$162,459.36
BELL
Your search returned 6 records


Records are sorted by Last Name, First Name
Total Amount for this Employer
$66,596.63 Monthly
$799,159.56 Annually
TOP 6 FOR SANTA BARBARA Name Monthly Annual
KENT, JOAN $15,995.00 $191,940.00
GLAUS, RICHARD $13,274.79 $159,297.48
LOWRY, ROBERT $12,840.23 $154,082.76
VAUGHN, MITCHELL $11,999.76 $143,997.12
SZEYLLER, EDWARD $11,865.84 $142,390.08
AHLMAN, JOHN $11,616.61 $139,399.32
Your search returned 6 records


Records are sorted by Last Name, First Name
Total Amount for this Employer
$77,592.23Monthly
$931,106.76 Annually
To the Santa Barbara Board of Supervisors I ask these questions. 

1- If you have had the report below since October of 2009 why are you acting as if this years budget deficit will help solve our problems?
2- What of the scenario below that shows even with all the additional funds used for the unfunded liability over the next 18 years we could still end up right where we are 1 billion dollars in unfunded liability?
3- Honestly if you never look at another posting of mine go to the link below and review the what the Board of Supervisors have known for over 18 months.

Item 6E Staff Report re SBCERS Investment Losses
http://www.sbcag.org/Meetings/SBCAG/2009/10October/Item%206E%20Staff%20Report%20re%20SBCERS%20%20Investment%20Losses.pdf

STAFF REPORT
SUBJECT: SBCERS Employer Contribution Rates 

MEETING DATE: October 15, 2009 AGENDA ITEM: 6E

STAFF CONTACT: Bobbi Didier

RECOMMENDATION:

Endorse the Executive Committee recommendation and the Retirement Board decision to
support Alternative Funding Option 2.

SBCAG Contributions under Current Funding Policy 

Total 5 yr variance = +16.66 %
Average annual increase (FY 2010-2014) = $76,024

SBCAG Contribution Rate Retirement Plan Cost
FY 2009-2010 21.60% $372,341
FY 2010-2011 30.99% 547,903
FY 2011-2012 31.90% 563,992
FY 2012-2013 33.76% 596,876
FY 2013-2014 38.26% 676,437

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click on the picture and it will open up to a new window.
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About magicinsantabarbara

Our Santa Barbara Criminal and Civil Superior Courts often abuse’s us with illegal and unjust judgments and convictions. So I investigate, law enforcement, judge’s, elected officials and our California Public Pensions trying to expose the corruption we are being forced to accept. We must always respect and support those who practice the law in an even and ethical manner and demand it from those who do not. Here you can find data for SBCERS, VECRA, LACERA .pensions as well as others.
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