SEIU union approves cost-saving contract

Members of California's largest state employee union approved a contract Tuesday that cuts pay by nearly 5 percent for 95,000 government workers and rolls back pension benefits, a move that will protect them from more sweeping government furloughs. Read more

Since: Dec 09

Palos Verdes Peninsula, CA

#587 Nov 27, 2010
lbusd teacher too wrote:
<quoted text>
There isn't much left for you, is there. If you had a life, you wouldn't be posting on all the different strings in this paper. November was a clean sweep for the Democrats. At your age, you may not have four years left. So you'll probably never see how it all turns out. But, I'll tell you anyways. The economy improves. California's deficits shrink. And the pension funds are back in the black. The reason I know this is because Capitalism is cyclic. And you and all of your hate and anger will be forgotten.
But why would any of this happen? What's ruined California is the confluence of a number of things: unchecked illegal immigration, high taxes, bad business climate, shrinking number of jobs, insane govt spending, and greedy govt unions that ruin everything they touch.

All of these problems are part of the Democrat agenda! We're going to get more illegals, higher taxes, more unions, more spending, and more regulations on "evil" business.

I agree most of the other states are due for a big rebound. But those states (Texas, say) aren't being run by Jerry Brown and people like him.

We'll know soon, but I think its far more likely we'll continue the slide, emulating East Coast states like New York in the 80s. It will take years to recover, if ever.
Doris

Jackson, OH

#588 Nov 27, 2010
OldGuysRule wrote:
If the only job you can find is as paid posters, you must be really fat and ugly = fugly.
So cut with deserts. I can't stand seeing someone get chocolate all over their keyboard. What a slob.
Old Guy, your attention, please. A dessert is Something Sweet. A desert is just Sand.

I can't stand seeing someone who wasn't taught to spell.

Spin this

Los Alamitos, CA

#589 Nov 27, 2010
lbusd teacher too wrote:
<quoted text>
Isn't Moody's one of the rating companies that told us that the mortgage backed bonds sold just a few years ago were AAA? California tax revenues are up and the economy is turning around. Unemployment is the last indicator to turn around. Let's give Jerry a year before we pass any more judgments. And please stop using these opinion pieces as news items. It is impossible to check his sources, and his bias is obvious. Now that all of you are on record that the end of the world is upon us, why don't you just shut up and see what happens.
SIEPR report shows California's local pensions underfunded by $200 billion
Stanford Report, November 18, 2010

The study by public policy lecturer and former state lawmaker Joe Nation follows an earlier report estimating the state's pension plans running deficits as high as $500 billion.

The employee pension funds of California's local governments and special districts are underfunded by $200 billion, according to Joe Nation, a former state lawmaker and public policy lecturer at the Stanford Institute for Economic Policy Research (SIEPR).

Nation's findings, issued by SIEPR on Thursday, follow a previous study conducted by four Stanford students who estimated that the three state employee pension plans CalPERS, CalSTRS and the University of California Retirement System could be underfunded to the tune of $500 billion.

The new study concludes that local governments are likely to spend about half their payroll over the next 18 years to meet unfunded pension obligations as well as other retirement and health care benefits.

Nation's new study which shows that the local government pension plans are underfunded by almost 45 percent has garnered the attention of Gov. Arnold Schwarzenegger, who has been pushing for pension reform since assuming office in 2003.

"Taxpayers are already suffering the consequences of billions of dollars in undisclosed pension debt, which is crowding out vital programs and services, and they are entitled to an honest accounting of the pension promises made by their elected officials," Schwarzenegger said in a statement issued Thursday.

Nation, a California assemblyman who represented Marin and Sonoma counties from 2000 to 2006, said some pension reform is likely thanks to agreements made in the current state budget.

"That reform is likely to include increased transparency, reductions in benefits, increased employee contributions and further restrictions on pension spiking," Nation wrote in the SIEPR report.

http://news.stanford.edu/news/2010/november/n...
lbusd teacher too

Los Angeles, CA

#590 Nov 27, 2010
TomFromPV wrote:
<quoted text>
But why would any of this happen? What's ruined California is the confluence of a number of things: unchecked illegal immigration, high taxes, bad business climate, shrinking number of jobs, insane govt spending, and greedy govt unions that ruin everything they touch.
All of these problems are part of the Democrat agenda! We're going to get more illegals, higher taxes, more unions, more spending, and more regulations on "evil" business.
I agree most of the other states are due for a big rebound. But those states (Texas, say) aren't being run by Jerry Brown and people like him.
We'll know soon, but I think its far more likely we'll continue the slide, emulating East Coast states like New York in the 80s. It will take years to recover, if ever.
I agree with everything you said in your second paragraph. But, my slant on it is just a little different from yours. First of all, we need immigrants, both documented and undocumented. We need all we can get. We are a dying nation. Without the immigrant births, we would be declining. And yes we will need to pay higher taxes if we expect to maintain services. And I hope our new Attorney General starts criminal prosecutions against corporations in this state that destroyed the lives of so many. And by the end of next year the economic turn around will be in full force. Unemployment will be down. Deficits will have shrunk. And social services will available to all that need them. And Jerry is our last best hope.
OldGuysRule

Long Beach, CA

#591 Nov 27, 2010
Doris wrote:
<quoted text>
Old Guy, your attention, please. A dessert is Something Sweet. A desert is just Sand.
I can't stand seeing someone who wasn't taught to spell.
Oh darn. Dad-gummit. Doris you got me. You are one sharp old lady. I know that because Doris was a popular name given to babies just after WWII.

I bet you are in love with Tom Jones!!
lbusd teacher too

Los Angeles, CA

#592 Nov 27, 2010
Spin this wrote:
<quoted text>
SIEPR report shows California's local pensions underfunded by $200 billion
Stanford Report, November 18, 2010
The study by public policy lecturer and former state lawmaker Joe Nation follows an earlier report estimating the state's pension plans running deficits as high as $500 billion.
The employee pension funds of California's local governments and special districts are underfunded by $200 billion, according to Joe Nation, a former state lawmaker and public policy lecturer at the Stanford Institute for Economic Policy Research (SIEPR).
Nation's findings, issued by SIEPR on Thursday, follow a previous study conducted by four Stanford students who estimated that the three state employee pension plans CalPERS, CalSTRS and the University of California Retirement System could be underfunded to the tune of $500 billion.
The new study concludes that local governments are likely to spend about half their payroll over the next 18 years to meet unfunded pension obligations as well as other retirement and health care benefits.
Nation's new study which shows that the local government pension plans are underfunded by almost 45 percent has garnered the attention of Gov. Arnold Schwarzenegger, who has been pushing for pension reform since assuming office in 2003.
"Taxpayers are already suffering the consequences of billions of dollars in undisclosed pension debt, which is crowding out vital programs and services, and they are entitled to an honest accounting of the pension promises made by their elected officials," Schwarzenegger said in a statement issued Thursday.
Nation, a California assemblyman who represented Marin and Sonoma counties from 2000 to 2006, said some pension reform is likely thanks to agreements made in the current state budget.
"That reform is likely to include increased transparency, reductions in benefits, increased employee contributions and further restrictions on pension spiking," Nation wrote in the SIEPR report.
http://news.stanford.edu/news/2010/november/n...
Joe Nations sounds like some out of office Republican party hack. And Arnold was shocked on Thursday. Like this problem just occurred. We are all aware that some changes need to be made in the funding of pensions. And the best way to do it is through collective bargaining. Five years ago the pensions were in surplus. And in two or three years, with some additional costs to public employees, the funds will again be balanced. With as deep a recession as this, caused by private sector greed, the public sector was bound to be hurt. It's not the first time we have had to carry the private sector on our backs. And, Joe and his other Republican cronies are just blowing smoke.
OldGuysRule

Long Beach, CA

#593 Nov 27, 2010
lbusd teacher too wrote:
<quoted text>
I agree with everything you said in your second paragraph. But, my slant on it is just a little different from yours. First of all, we need immigrants, both documented and undocumented. We need all we can get. We are a dying nation. Without the immigrant births, we would be declining. And yes we will need to pay higher taxes if we expect to maintain services. And I hope our new Attorney General starts criminal prosecutions against corporations in this state that destroyed the lives of so many. And by the end of next year the economic turn around will be in full force. Unemployment will be down. Deficits will have shrunk. And social services will available to all that need them. And Jerry is our last best hope.
You are, what we refer to in the real world as, a loon.

Capitalism in cyclical but it is also greatly impacted by structural changes. Like in the case of our current economic issues, we are realizing structural issues as companies leave California and the United States.

California is losing businesses faster than the hair grows on your dark haired olive skinned European lips, Miss "Too".

The US is also losing labor and entire businesses to other countries who offer better choices.

The next thing to go is public sector unions. Once union employees start realizing they are getting cut either way, they are going to kick the unions out becuase they will be tired of paying the "Union Tax".

Unions do not add value. They just add bureaucracy costs.

California will never be the same for many years to come. And Unions are going to be but of the joke.

Even airlines like Delta just voted them out.

It's almost as if unions are being hung and but their neck didn't break. So they are slowly dying of suffocation and are down to their last couple of breaths. Like you -- When you speak, your voice is like the sound of some bodily fluids gurgling as the chest muscles spasm for air.

Unions are a death waiting to happen. You are just a sign of rigamortis.
Spin this liberal slant

Los Alamitos, CA

#594 Nov 27, 2010
Planning for pensions
A Stanford economist's report on the funding of municipal California retirement plans could be overly pessimistic, but it still shows the need for reform of the system.
November 27, 2008

An eye-popping new report by an economist at Stanford University claims that the independent pension plans for city and county employees in California -- that is, those who aren't covered by the giant CalPERS system -- may be underfunded by as much as $195 billion. Author Joe Nation argues that these retirement plans are assuming unreasonably high rates of return on their investments, leading city and county governments to contribute too little to their pension funds.

Nation's assumptions probably go too far in the other direction, understating the pension funds' growth. Nevertheless, his findings add to the evidence that state and local officials need to rework public employee retirement programs before California taxpayers have to bail them out.

The report released last week is a follow-up to a similar examination in April that found more than $400 billion in unfunded liabilities at three state pension systems. Nation argues that local officials are making the same mistake as the trustees who run the state funds: They're counting on average gains of about 8% annually, when a "risk-free" assumption would be 4%.

There's just no telling how well the local pension funds' mix of stocks, bonds, real estate and other assets will perform in the future. What we do know is that, like most investors, they racked up heavy losses when the market plummeted in 2008-09. As a result, they're obligated to pay billions of dollars in benefits that they can't afford, even under the pension funds' projections for future earnings. And if those projections prove too optimistic, as Nation warns, the cities and counties they represent will have to kick in ever-larger amounts to cover the shortfall. That means cuts to other services, higher taxes or both.

Other risk factors are the laws and contracts that allow workers to reap outsized pension benefits while limiting the contributions they have to make to the system. Gov. Arnold Schwarzenegger persuaded several groups of state workers to make important concessions on those fronts; city and county officials need to follow suit.

Voters in the city of Los Angeles -- whose pension systems could be underfunded by $34 billion, according to Nation -- will have a chance to vote in March on a ballot measure that would provide newly hired public safety employees less costly pension and health benefits than current ones receive. That's a start, but local officials statewide still need to address other forces that can drive individual pensions to unreasonable levels.

These include contracts that offer many public employees benefits based on the compensation they collect in their final year -- a calculation potentially inflated by the inclusion of longevity bonuses and unused vacation and sick pay. Meanwhile, the state needs to give local officials the power to negotiate for larger retirement contributions by public employees, which could help them respond to pension underfunding. If Nation is right, they'll need all the help they can get.

http://www.latimes.com/news/opinion/editorial...
OldGuysRule

Long Beach, CA

#595 Nov 27, 2010
California Public Sector Unions remind me of North Korea.
lbusd teacher too

Valencia, CA

#596 Nov 27, 2010
OldGuysRule wrote:
<quoted text>
You are, what we refer to in the real world as, a loon.
Capitalism in cyclical but it is also greatly impacted by structural changes. Like in the case of our current economic issues, we are realizing structural issues as companies leave California and the United States.
California is losing businesses faster than the hair grows on your dark haired olive skinned European lips, Miss "Too".
The US is also losing labor and entire businesses to other countries who offer better choices.
The next thing to go is public sector unions. Once union employees start realizing they are getting cut either way, they are going to kick the unions out becuase they will be tired of paying the "Union Tax".
Unions do not add value. They just add bureaucracy costs.
California will never be the same for many years to come. And Unions are going to be but of the joke.
Even airlines like Delta just voted them out.
It's almost as if unions are being hung and but their neck didn't break. So they are slowly dying of suffocation and are down to their last couple of breaths. Like you -- When you speak, your voice is like the sound of some bodily fluids gurgling as the chest muscles spasm for air.
Unions are a death waiting to happen. You are just a sign of rigamortis.
I love eating desserts. But, I would hate eating a sandy desert.
lbusd teacher too

Valencia, CA

#597 Nov 27, 2010
OldGuysRule wrote:
California Public Sector Unions remind me of North Korea.
I seems like everything reminds you of North Korea. Does your wife remind of North Korea? Maybe your dog reminds you of North Korea. And when you look at yourself in the mirror. Need I say more?
lbusd teacher too

Valencia, CA

#598 Nov 27, 2010
Spin this liberal slant wrote:
Planning for pensions
A Stanford economist's report on the funding of municipal California retirement plans could be overly pessimistic, but it still shows the need for reform of the system.
November 27, 2008
An eye-popping new report by an economist at Stanford University claims that the independent pension plans for city and county employees in California -- that is, those who aren't covered by the giant CalPERS system -- may be underfunded by as much as $195 billion. Author Joe Nation argues that these retirement plans are assuming unreasonably high rates of return on their investments, leading city and county governments to contribute too little to their pension funds.
Nation's assumptions probably go too far in the other direction, understating the pension funds' growth. Nevertheless, his findings add to the evidence that state and local officials need to rework public employee retirement programs before California taxpayers have to bail them out.
The report released last week is a follow-up to a similar examination in April that found more than $400 billion in unfunded liabilities at three state pension systems. Nation argues that local officials are making the same mistake as the trustees who run the state funds: They're counting on average gains of about 8% annually, when a "risk-free" assumption would be 4%.
There's just no telling how well the local pension funds' mix of stocks, bonds, real estate and other assets will perform in the future. What we do know is that, like most investors, they racked up heavy losses when the market plummeted in 2008-09. As a result, they're obligated to pay billions of dollars in benefits that they can't afford, even under the pension funds' projections for future earnings. And if those projections prove too optimistic, as Nation warns, the cities and counties they represent will have to kick in ever-larger amounts to cover the shortfall. That means cuts to other services, higher taxes or both.
Other risk factors are the laws and contracts that allow workers to reap outsized pension benefits while limiting the contributions they have to make to the system. Gov. Arnold Schwarzenegger persuaded several groups of state workers to make important concessions on those fronts; city and county officials need to follow suit.
Voters in the city of Los Angeles -- whose pension systems could be underfunded by $34 billion, according to Nation -- will have a chance to vote in March on a ballot measure that would provide newly hired public safety employees less costly pension and health benefits than current ones receive. That's a start, but local officials statewide still need to address other forces that can drive individual pensions to unreasonable levels.
These include contracts that offer many public employees benefits based on the compensation they collect in their final year -- a calculation potentially inflated by the inclusion of longevity bonuses and unused vacation and sick pay. Meanwhile, the state needs to give local officials the power to negotiate for larger retirement contributions by public employees, which could help them respond to pension underfunding. If Nation is right, they'll need all the help they can get.
http://www.latimes.com/news/opinion/editorial...
I am going to walk you through this, but space is limited. So, the answer will follow.
OldGuysRule

Long Beach, CA

#599 Nov 27, 2010
lbusd teacher too wrote:
<quoted text>
I am going to walk you through this, but space is limited. So, the answer will follow.
LBUSD Teacher Too = LBUSD Teacher Poo
lbusd teacher too

Valencia, CA

#600 Nov 27, 2010
This is another op/ed piece. This is the last one I will respond to.

This is how the writer responds to Joe's findings:
"Nation's assumptions probably go too far in the other direction, understating the pension funds' growth. Nevertheless, his findings add to the evidence that state and local officials need to rework public employee retirement programs before California taxpayers have to bail them out."
Which is what I wrote. Presently, unions are investigating ways to secure future pension funds. And the best way is through collective bargaining.

Joe is assuming a 4% growth, but growth is at least 8% over ten years:
"The report released last week is a follow-up to a similar examination in April that found more than $400 billion in unfunded liabilities at three state pension systems. Nation argues that local officials are making the same mistake as the trustees who run the state funds: They're counting on average gains of about 8% annually, when a "risk-free" assumption would be 4%."

As I said before, everyone was hit by the recession. But when the recovery occurs, most the losses will be made up:
"There's just no telling how well the local pension funds' mix of stocks, bonds, real estate and other assets will perform in the future. What we do know is that, like most investors, they racked up heavy losses when the market plummeted in 2008-09."

The writer doubts Joe's numbers and projections. Joe is using worse case projections. But, of course he would take that bias. He's a Republican political hack. What is giving us is an opinion. That's all.
OldGuysRule

Long Beach, CA

#601 Nov 27, 2010
lbusd teacher too wrote:
This is another op/ed piece. This is the last one I will respond to.
This is how the writer responds to Joe's findings:
"Nation's assumptions probably go too far in the other direction, understating the pension funds' growth. Nevertheless, his findings add to the evidence that state and local officials need to rework public employee retirement programs before California taxpayers have to bail them out."
Which is what I wrote. Presently, unions are investigating ways to secure future pension funds. And the best way is through collective bargaining.
Joe is assuming a 4% growth, but growth is at least 8% over ten years:
"The report released last week is a follow-up to a similar examination in April that found more than $400 billion in unfunded liabilities at three state pension systems. Nation argues that local officials are making the same mistake as the trustees who run the state funds: They're counting on average gains of about 8% annually, when a "risk-free" assumption would be 4%."
As I said before, everyone was hit by the recession. But when the recovery occurs, most the losses will be made up:
"There's just no telling how well the local pension funds' mix of stocks, bonds, real estate and other assets will perform in the future. What we do know is that, like most investors, they racked up heavy losses when the market plummeted in 2008-09."
The writer doubts Joe's numbers and projections. Joe is using worse case projections. But, of course he would take that bias. He's a Republican political hack. What is giving us is an opinion. That's all.
Haha! Everything you write is an Opinion Editorial!! You never link to data or provide support other than your "word". Like we are really going to believe anything a crook like you writes.
lbusd teacher too

Rancho Palos Verdes, CA

#602 Nov 28, 2010
OldGuysRule wrote:
<quoted text>
Haha! Everything you write is an Opinion Editorial!! You never link to data or provide support other than your "word". Like we are really going to believe anything a crook like you writes.
That's your opinion. You have been wrong before. Did Whitman's last check finally clear?

Since: Dec 09

Manhattan Beach, CA

#603 Nov 28, 2010
lbusd teacher too wrote:
<quoted text>
I agree with everything you said in your second paragraph. But, my slant on it is just a little different from yours. First of all, we need immigrants, both documented and undocumented. We need all we can get. We are a dying nation. Without the immigrant births, we would be declining. And yes we will need to pay higher taxes if we expect to maintain services. And I hope our new Attorney General starts criminal prosecutions against corporations in this state that destroyed the lives of so many. And by the end of next year the economic turn around will be in full force. Unemployment will be down. Deficits will have shrunk. And social services will available to all that need them. And Jerry is our last best hope.
You just restated your dream, but didn't give any reasoning to support it. Why will unemployent be down? Because we have even more illegal immigrants?

Why will deficits shrink? Because even more of us will lose our jobs and leave the state because of insane taxes?

Since: Dec 09

Manhattan Beach, CA

#604 Nov 28, 2010
lbusd teacher too wrote:
The writer doubts Joe's numbers and projections. Joe is using worse case projections. But, of course he would take that bias. He's a Republican political hack. What is giving us is an opinion. That's all.
But have you offered anything but opinion either?

Again, what CHANGES will Jerry Brown and the controlling Democrats make to fix the current plight?

I say NONE, since their agenda is EXACTLY why we're in this mess. What do you say?

And the rest of the country WILL recover because they're elected people who WILL make changes -- such as cutting back spending, keeping taxes low, etc.
Dan Dougherty

Scottsdale, AZ

#605 Nov 28, 2010
From Dan Dougherty

Los Angeles, CA

#606 Nov 28, 2010
Dan Dougherty wrote:
www.scribd.com/doc/22629976/Th ey-Shall-Re...
Jesus gave a solemn warning to the religious leaders (Pharisees) overseeing the spiritual welfare of the Jewish people: "...these shall receive greater damnation" (Matthew 23:13 & Luke 20:47). He was angered at them for claiming to teach the correct path to Heaven, when they were in fact "the blind leading the blind" (Matthew 15:14).

These false teachers of God had managed to shut off the Kingdom of Heaven from both themselves, and those who followed them. Bringing to light and condemning these misguided religious beliefs was one of the priorities of Jesus' ministry. Even though the Pharisees were highly respected by the people, they were in reality, deceiving the masses. This book will uncover "modern-day Pharisees," who exist within today's Protestant churches.

The vast majority of their pastors are repeating the very sins of the original Pharisees! While they truly believe in their hearts they are faithfully dispensing the Gospel of Jesus Christ to those under their charge, they are in fact leading them into Hell!

Your eternal destiny could very well depend upon the decisions you will make after reading this book. My sincere hope and prayer is that God will lift any veil covering your spiritual sight and allow you to experience the "new birth" in Jesus Christ.

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