examples in how republicans cant run government

http://www.ebudget.ca.gov/2008-09-EN/BudgetSummary/K12/32269066.html



K thru 12 Education
California State Teachers' Retirement System



The California State Teachers' Retirement System (CalSTRS) administers the Teachers' Retirement Fund, which is an employee benefit trust fund created to administer the State Teachers' Retirement Plan. The State Teachers' Retirement Plan is a defined benefit pension plan that provides retirement, disability, and survivor benefits for teachers and certain other employees of the California public school system. The Plan is comprised of three programs: the Defined Benefit Program, the Defined Benefit Supplement Program, and the Cash Balance Benefit Program. Within the Defined Benefit Program there is also a Supplemental Benefit Maintenance Account (SBMA), which provides annual supplemental payments in quarterly installments to retired teachers whose purchasing power has fallen below 80 percent of the purchasing power of an initial allowance.

Currently, the state makes annual General Fund contributions to the SBMA of 2.5 percent of teacher payroll for purchasing power protection. However, the 80 percent level of supplemental payments is not a vested benefit. This means that if the amount in the SBMA is not sufficient to bring purchasing power up to the 80 percent level, supplemental payments may have to be suspended or paid at a lower level. The Administration is proposing to fully vest the benefit at 80 percent purchasing power protection, which will provide increases to the future value of this program for retired teachers. An actuarial analysis performed in 2005 at the direction of the Department of Finance shows that the SBMA has more than enough money to provide the purchasing power protection for current and future retired teachers. As a result of the funded status of the SBMA, the state will be able to fully vest the purchasing power protection and reduce the state's contributions to the SBMA from 2.5 percent to 2.2 percent of salary consistent with the actuarial calculation. The savings from the reduced contribution equates to $80 million in 2008-09. The state will fund the amount necessary to maintain the 80 percent purchasing power should the 2.2 percent contribution not be sufficient in future years. In addition, payments of 1.1 percent each will be made on November 1 and April 1, instead of July 1 of each fiscal year.

The state will make a payment of $80 million in 2008-09 as the first of three payments towards the $210 million in interest from the STRS lawsuit. Another payment of $82 million will be made in 2009-10 and the remaining $48 million will be paid in 2010-11.
 
I Love America said:
California is not run by the democrat party? Really?


I am sure that is news to Cawacko. When did the GOP take control of California?
Click to expand...



dear fucking brain dead asshole who cant spell,


Its Democratic party you shit heel who is so brain washed you dont even know he name of the party
 
the rebuttlicking party


that is not the name of your party no matter how many time I say it huh
 
evince said:
the rebuttlicking party


that is not the name of your party no matter how many time I say it huh
Click to expand...

I don't belong to a party. I am a registered independent. But you can call me whatever you like. Apparently your self esteem is driven by what I call your party. Very sad.

I understand if you want to focus on spelling instead of the facts of your party's failures. Poor baby
 
Wait, Desh who doesn't know the difference between your and you're is trying to call someone out for spelling?

Desh, who calls Romney 'robmoney' is upset at someone saying Democrat instead of Democratic?

Classic example of someone who can dish it out but can't take it
 
Oh look at this. And this is only from 2014. This must be good Democratic governing according to Desh.



$198 Billion: California’s Unfunded Pension Liability Grew More Than 30 Times In A Decade

With each passing year, California taxpayers are increasingly liable for billions of dollars more to cover retirement benefits for police, firefighters, teachers and other public employees, according to a massive amount of pension data recently released by the state Controller’s Office.

A decade of financial data posted by Controller John Chiang on his open-data website, ByTheNumbers.sco.ca.gov , shows that the state’s 130 public pension systems are carrying $198 billion in unfunded liability in 2013, compared with $6.3 billion of unfunded liability in 2003.

The systems run by the state, cities and other government agencies range from the nation’s largest public pension system, the California Public Employees’ Retirement System (CalPERS) with $281.1 billion in assets in 2013, to the smallest, the City of Pittsburg Miscellaneous Employees’ Retirement System of 1962, with assets of less than $9,000.

“By pushing our state into the digital age of providing knowledge and information, I hope to empower greater citizen participation in how government handles a policy matter which is central to California’s long-term prosperity,” Chiang said in a statement.

Chiang, a Democrat who recently cruised to victory in the state treasurer’s race, has been using his position as the state’s chief fiscal officer to make government records transparent and accessible. In a recent audit report, he criticized CalPERS for a passive approach that he said invites abuse.

The website allows users to compare data from multiple pension systems, track trends over the past 10 fiscal years and download raw data.

The controller warns that many of the state’s public pension systems are unhealthy. In 2013, there were 17 plans that were underfunded by at least 40 percent, and another 45 were funded between 60 and 80 percent. Only 22 were funded at over 80 percent, the benchmark often used to measure solvency.

The state is also responsible for a growing number of retirees. In 2003, there were 816,208 retired workers drawing pensions from defined benefit systems. In 2013, the number of retirees had grown to 1.22 million.

“CalPERS’ leaders have done a lot of work over recent years to improve and ensure the long-term sustainability of our system,” said Rosanna Westmoreland, a spokeswoman for the fund, “and we think the controller’s database is a welcome tool to help inform policymakers and the public about the health of public pensions.”

CalPERS reported $57.4 billion in unfunded liabilities for 2013.

A message left for Service Employees International Union Local 1000, the largest state employees union, was not returned Friday.


http://sacramento.cbslocal.com/2014...iability-grew-more-than-30-times-in-a-decade/
 
cawacko said:
Oh look at this. And this is only from 2014. This must be good Democratic governing according to Desh.



$198 Billion: California’s Unfunded Pension Liability Grew More Than 30 Times In A Decade

With each passing year, California taxpayers are increasingly liable for billions of dollars more to cover retirement benefits for police, firefighters, teachers and other public employees, according to a massive amount of pension data recently released by the state Controller’s Office.

A decade of financial data posted by Controller John Chiang on his open-data website, ByTheNumbers.sco.ca.gov , shows that the state’s 130 public pension systems are carrying $198 billion in unfunded liability in 2013, compared with $6.3 billion of unfunded liability in 2003.

The systems run by the state, cities and other government agencies range from the nation’s largest public pension system, the California Public Employees’ Retirement System (CalPERS) with $281.1 billion in assets in 2013, to the smallest, the City of Pittsburg Miscellaneous Employees’ Retirement System of 1962, with assets of less than $9,000.

“By pushing our state into the digital age of providing knowledge and information, I hope to empower greater citizen participation in how government handles a policy matter which is central to California’s long-term prosperity,” Chiang said in a statement.

Chiang, a Democrat who recently cruised to victory in the state treasurer’s race, has been using his position as the state’s chief fiscal officer to make government records transparent and accessible. In a recent audit report, he criticized CalPERS for a passive approach that he said invites abuse.

The website allows users to compare data from multiple pension systems, track trends over the past 10 fiscal years and download raw data.

The controller warns that many of the state’s public pension systems are unhealthy. In 2013, there were 17 plans that were underfunded by at least 40 percent, and another 45 were funded between 60 and 80 percent. Only 22 were funded at over 80 percent, the benchmark often used to measure solvency.

The state is also responsible for a growing number of retirees. In 2003, there were 816,208 retired workers drawing pensions from defined benefit systems. In 2013, the number of retirees had grown to 1.22 million.

“CalPERS’ leaders have done a lot of work over recent years to improve and ensure the long-term sustainability of our system,” said Rosanna Westmoreland, a spokeswoman for the fund, “and we think the controller’s database is a welcome tool to help inform policymakers and the public about the health of public pensions.”

CalPERS reported $57.4 billion in unfunded liabilities for 2013.

A message left for Service Employees International Union Local 1000, the largest state employees union, was not returned Friday.


http://sacramento.cbslocal.com/2014...iability-grew-more-than-30-times-in-a-decade/
Click to expand...

Yeah but according to BucKKK Ewer, the democratics don't have a supermajority.
 
You must log in or register to reply here.
Back
Top