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San Diego City Employees pension fund ailing
I wonder if the panty "waste" was intentional or just a typo?— February 11, 2009 6:14 a.m.
San Diego City Employees pension fund ailing
I'm sorry, candles at Fred's is something I really didn't need in my mind's eye.— February 10, 2009 11:51 a.m.
San Diego City Employees pension fund ailing
JF.... I thought those were the more infamous counter-top "toaster ovens", not just your run-of-the-mill bread tosters that were/are the cause of many a home kitchen fire???— February 10, 2009 7:17 a.m.
San Diego City Employees pension fund ailing
Don, Not asking about your compensation at all and your response sounds abit cynical too. I have no alterior motive other than wondering if any piece had ever generated so many comments. Sadly, looking back through them, there seems to be only a handful who comment. Nevertheless we are passionate in our views.— February 9, 2009 8:38 a.m.
San Diego City Employees pension fund ailing
Don, Do we all earn a toaster if this thread reaches 1000 posts? Has the SD Reader kept any stats on responses? I'm just wondering.— February 8, 2009 5:28 p.m.
San Diego City Employees pension fund ailing
JJ thanks for clearing up another misstatement from Johnny Vegas in #699 above. Vegas has an extended history of posting inflammatory or inaccurate information just go get others excited. Mr. Bauder was kind enough to define this as being a TROLL in comment #584 above. Guess Mr. Bauder recognized it too, as he encouraged Johnny to defend himself.— February 7, 2009 11:03 a.m.
Formerly of NBC 7/39
I'm just wondering if anyone verifies the veracity of these stories before posting them. In addition, is a story of a layoff from two years ago relevant to "todays" economics? Yes, a layoff is a layoff, but two years ago wasn't that about the time when Channel 39 changed majority ownership?— February 7, 2009 7:33 a.m.
San Diego City Employees pension fund ailing
Don, since you brought SDCERS back up, I watched the Board of Administration video again. Their next meeting is scheduled for Feb. 20th where they'll decide the Interest Crediting Rate for DROP accounts. Here's my prediction which is based upon the boards conflicted fiduciary duties: For active DROP accounts, this is the employee is still working for the City during the 5 year DROP term, the SDCERS board will lower the interest crediting rate to 3.5% from its current 7.75%. For retired DROP accounts, this happens when the employee leaves employment with the City but elects to leave their DROP account with SDCERS. If they choose this, their DROP account is converted into an annuity with one of two terms; 20 year or life expectancy per IRS tables. My prediction is the board will leave that interest crediting rate at the Plan's assumed rate of return of 7.75%. The reasoning behind both is the length of i term Decoupling the rates of crediting thus fulfills both fiduciary duties. First it helps to maintain the overall financial health of the system. It also slightly reduces the payment obligations of the City. Second it supports the board other fiduciary duty to maximize member benefits. What I find interesting is the conflict between these two duties. There is a chicken or the egg argument. Finally my apology to Johnny V for another long post.— February 6, 2009 6:30 a.m.
San Diego City Employees pension fund ailing
Good point on deferred maintenance and my car's suspension think so too as the streets in the local neighborhood are beginning to look like the roadways in Gaza.— February 5, 2009 3:23 p.m.
San Diego City Employees pension fund ailing
Response to #676... I do not recall me ever saying I believe I am underpaid. I believe JF and I have argued wages are reasonable now, but lower than others within the State of California, doing the same work. I believe you, JV, Fred and others think the only answer is to lower our wages. JV suggests a 80% cut in comment #660, but that's JV he typically posts answers that are, well you know, posted by "one who posts inflammatory or inaccurate information just to get others excited." You know, a troll. Furthermore, you say the City cannot afford it. To my knowledge the city has been, and still is, paying its bills. Unless the Mayor's lying about that too!— February 5, 2009 2:06 p.m.