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No wonder California is going broke...

D

Dacalo

Diamond Member
This kind of crap pisses me off!!

http://www.sacbee.com/2010/11/18/3194072/ousted-csba-director-collects.html

Ousted CSBA director collects pension of $17,000 monthly

After being ousted as the executive director at a statewide nonprofit school board association, Scott Plotkin is drawing $205,000 annually from his public pension.
Plotkin, 57, retired Sept. 1 from the California School Boards Association with a $43,000 severance payment. He is receiving $17,089 monthly from the California Public Employees' Retirement System.
The CSBA came under fire in July when the pay of top executives were revealed. Until Wednesday, the pension information was not publicly known.
Plotkin was paid $516,517 in 2008 and $403,955 in 2009 after receiving sizable bonuses and other compensation.
CSBA employees are eligible for CalPERS, with their pension determined, in part, by the number of years of service to an organization covered by CalPERS.
CalPERS officials said that, by law, they can't divulge the number of years of service used in Plotkin's calculation.
Plotkin was the CSBA's executive director for nine years. Prior to CSBA, he worked for the California State University system and was a consultant for the state Senate Committee on Education.
CSBA spokeswoman Brittany McKannay said the organization is not making any further payments to Plotkin and is not covering any of his medical expenses.
The CSBA, which has been working to repair its reputation, released a report Monday evening that highlighted fiscal and governance issues within the organization.
A full compensation review of CSBA salaries is under way.
The CSBA receives much of its funding from membership dues and other fees paid by publicly funded California school districts and county offices of education. In return, CSBA lobbies on behalf of school boards, provides trustees with professional development and is a resource on policy and legal issues.
The CSBA is working with a firm to find a new executive director. There is no timeline yet for when someone will be hired.
"We have been working with our staff and our board to determine what we want in our next executive director," McKannay said. "We really think it's important that everyone has the opportunity to provide their input."
The CSBA's retired former executive director, Davis Campbell, was serving as interim executive director until recently. Campbell receives a gross monthly salary of $11,565, or $138,780 annually, from CalPERS.
He did not take a salary while serving as interim executive director, McKannay said.
CSBA Chief Deputy Executive Director Jeff Vaca is serving as interim executive director. Tax filings for 2009 show Vaca earned $180,700.


Read more: http://www.sacbee.com/2010/11/18/3194072/ousted-csba-director-collects.html#ixzz15gVi03NM​
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Err, was the POTUS make annually? Isn't that supposed to be the cap for all government employees? Or is that just for Federal employees?
 
and PS:
Fire them all. Every single person on the government payroll. Make the median US income the salary cap for new employees. Old employees can get unemployment or get a real job.
 
Pensions are a "pay me now, or pay me later" thing for employees and employers. MOST companies would rather commit to long-term pension plans than to pay their employees more money up front/monthly.
As a union member, every dime that goes into our pensions comes out of the annual raises that we negotiate. If we get $1.00 per hour in increase, maybe 30 cents goes to wages. The rest goes to health insurance and pension.
The same with most unionized jobs that have pension plans.

Everyone acts like pensions are "free money" to those who receive them. Just the opposite. The money in the plans is paid in by the workers...and, if the plan is managed properly, and if the economy doesn't go south, the monies in the plan are invested for a good return, thus allowing most retirees to withdraw more than is actually paid in.
Most of the time, the company would rather agree to a pension plan, even helping fund a portion of the plan, than to pay the extra in wages.
 
BoomerD said:
Pensions are a "pay me now, or pay me later" thing for employees and employers. MOST companies would rather commit to long-term pension plans than to pay their employees more money up front/monthly.
As a union member, every dime that goes into our pensions comes out of the annual raises that we negotiate. If we get $1.00 per hour in increase, maybe 30 cents goes to wages. The rest goes to health insurance and pension.
The same with most unionized jobs that have pension plans.

Everyone acts like pensions are "free money" to those who receive them. Just the opposite. The money in the plans is paid in by the workers...and, if the plan is managed properly, and if the economy doesn't go south, the monies in the plan are invested for a good return, thus allowing most retirees to withdraw more than is actually paid in.
Most of the time, the company would rather agree to a pension plan, even helping fund a portion of the plan, than to pay the extra in wages.
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Agreed.
 
Slew Foot said:
CA has it worse than all of them
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CA has more income than all of them...dumbass. CA, compared to all the other states in the US and all the countries in the world, has is the 6th largest economy in the world.

But yeah, this is fucked up beyond all recognition.
 
Very few pensions are well funded. maybe raytheon/lockheed.. Most pensions failed at math and think they can pay people 30 years for only 1 yr contribution. I know no investment that good. This is why over 170 pension went broke last year and turned over to feds insurance program which is also bankrupt. States are all going to be broke in 5 years. Pensions will not be paid or paid with counterfeit money which amounts to same thing.

Ca 500 billion $ pension hole not counting cities. You could tax everyone 100% and you still would not cover it.
http://articles.latimes.com/2010/apr/06/opinion/la-oe-crane6-2010apr06
 
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I think we need to renegotiate those pension plans. Oh, you were being paid $200,000 a year? Well, we can pay you $50,000 a year...or we can pay you zero when we go bankrupt. You make the call.
 
This is an independent nonprofit. Why are they part of CalPERS? I'm so mad I could blow up an airport.
 
BoomerD said:
Pensions are a "pay me now, or pay me later" thing for employees and employers. MOST companies would rather commit to long-term pension plans than to pay their employees more money up front/monthly.
As a union member, every dime that goes into our pensions comes out of the annual raises that we negotiate. If we get $1.00 per hour in increase, maybe 30 cents goes to wages. The rest goes to health insurance and pension.
The same with most unionized jobs that have pension plans.

Everyone acts like pensions are "free money" to those who receive them. Just the opposite. The money in the plans is paid in by the workers...and, if the plan is managed properly, and if the economy doesn't go south, the monies in the plan are invested for a good return, thus allowing most retirees to withdraw more than is actually paid in.
Most of the time, the company would rather agree to a pension plan, even helping fund a portion of the plan, than to pay the extra in wages.
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Uh, you honestly believe that? I know CalPers is allowed to factor in a return of something in the range of 7-8% for its massive pension fund to cover the masive influx of pension recipients in the future when it in fact has faced massive losses recently and probably won't reach that kind of return any time soon. And when it comes time to start paying for the massive influx of baby boomers drawing pensions they won't be able to pay.....leaving the taxpayers footing the bill for the unions fairytale land where they get over-generous defined benefit plans where they MOST CERTAINLY do not contribute enough towards their pensions and are allowed to engage in dodgy accounting that would land the CEO/CFO of a private company in jail for cooking the books.

Interesting read on CalPers: http://www.economist.com/node/17046748?story_id=17046748
 
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I have no problem with pensions.
You pay in, your get money out.

What I do have a problem with is having the taxpayer be put on the hook for the mismanagement on the union pensions. The UNIONS should be on the hook not the taxpayer.
 
JulesMaximus said:
CA has more income than all of them...dumbass. CA, compared to all the other states in the US and all the countries in the world, has is the 6th largest economy in the world.

But yeah, this is fucked up beyond all recognition.
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It also has more debt, more people, more illegals, more welfare cases, more politicians wiling to hand out taxpayers $$$ to any idiot that asks for it, unfriendlier business laws, more projected natural resource shortages, and other problems. Dumbass.
 
I was reading something and found a comment interesting
http://www.businessinsider.com/california-fiscal-outlook-2011-2012-2010-11
As a retired California State worker, all I can say is that "a contract is a contract" and I expect my pension to be paid in full without any delays.

Don't make me call on the State Workers in Black Dresses to enjoin and sanction your private sector flabby asses.
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Just try - what you gonna do when everyone productive but deadbeats and criminals leave paradise?
 
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Patranus said:
I have no problem with pensions.
You pay in, your get money out.

What I do have a problem with is having the taxpayer be put on the hook for the mismanagement on the union pensions. The UNIONS should be on the hook not the taxpayer.
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You would if you heard how they are negotiated at govt level blackmail/kickbacks/phone banking etc. I don't have a problem with cop unions you need them to have impartial police force and not become some south American junta but the rest all need to go.
http://online.barrons.com/article/SB126843815871861303.html#articleTabs_panel_article=1

Besides the politicians, the primary culprits are the public-employee unions, which have used their growing power to dramatically enhance pension benefits. They curry favor with sympathetic politicians, lavishing them with large donations and manning campaign phone banks. They also engage in full-court-press lobbying at all levels of state and local government.

One would think legislators or managers in state, county and local governments would protect the taxpayer by bargaining hard. But they clearly don't, because of inherent conflicts of interest.

Nearly all public employers, regardless of their position, benefit from the very same pension programs, either directly or indirectly. Legislators in the main receive the same pension benefits that they lavish on other public employees. And administrators, though subject to independently negotiated contracts, use enriched union pension plans as a valuable bargaining wedge. So there's little incentive to fight the unions with much vigor.
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