This is embezzlement. “Nice people” don’t embezzle.

23 Dec

Below is one page of absolute SHIT sent to me by Chico City Manager Brian Nakamura regarding our city’s unfunded pension liability. He sent me two downloads, hundreds of pages of gunk. You’d need to lay down bread crumbs to get through this stuff. Sent to me just the other day, I feel this is just a distraction for me, to read over Christmas Holiday? And show up at a meeting scheduled very purposely for one day after Christmas.

Look over the table below – what you should get out of this is, our city council has promised these ridiculous pension packages, promised an “employer share” that is more than the “employee share”, and then promised to pay most of the “employee share” too. Also, you should see, CalPERS promised they’d fund these crazy pensions, including their own, by investing on the stock market, and it’s not working. Compare the liabilities with the assets, and you’ll see CalPERS tanking. When CalPERS tanks, Brian Nakamura and his friends want us to think we’re liable for paying these pensions. 

Why are we putting up with this? Please write to Brian Nakamura, bnakamura@ci.chico.ca.us, and tell him we want new contracts, and we’re sick of paying for these plush pensions and benefits packages, including his. Write to your new mayor, Mary Goloff too, at mgoloff@ci.chico.ca.us.  Tell her we’re sick of paying her benefits package too. 

Nakamura tries to act as though he’s here to help us out! At $212,000 a year in salary, a roughly $50,000 increase over retired city manager Dave Burkland. In fact the council’s first act after hiring Nakamura was to approve a $50-something-thousand budget increase to pay his salary – it’s in the minutes folks, look that up yourselves.  And, Burkland just joined the pension club – at 70% of his $165,000+ salary. 

Let me make something  clear to  all these other public employees that have been wishing me a “Merry Christmas” with one hand in my purse: I don’t like you. I think you are an evil person who steals from and uses less-fortunate, or “not publicly employed”,  people to feather your own nest. I have lost all my respect for the concept of “public servant.” You people are public leeches. When CalPERS crashes, I don’t care what happens to you. I don’t wish you a Merry Christmas, in fact, I hope your Christmas sucks. 

Here’s the message Public Worker: I need your phony good will like a moose needs a hat rack. When you can stand up on your hind legs like homo sapiens instead slithering along like blood-sucking annelids, I might get some respect for you. Until then, just stay the hell out of my way and do your fucking jobs. 

CALPERS ACTUARIAL VALUATION – June 30, 2011
MISCELLANEOUS PLAN OF THE CITY OF CHICO
CalPERS ID 6818749730
Page 11
Development of Accrued and Unfunded Liabilities

1. Present Value of Projected Benefits

a) active members – $78,271,949

 b) Transferred members – $5,531,540

c) Terminated Members $2,951,837

d) Members and Beneficiaries Receiving Payments – $76,270,600

e) Total – $163,025,926


2. Present Value of Future Employer Normal Costs – $13,282,215

3. Present Value of Future Employee Contributions – $9,362,722

4. Entry Age Normal Accrued Liability

a) Active Members [(1a) – (2) – (3)] – $55,627,012

b) Transferred Members (1b) – $5,531,540

c) Terminated Members (1c) – $2,951,837

d) Members and Beneficiaries Receiving Payments (1d) – $76,270,600

e) Total – $140,380,989

5. Actuarial Value of Assets (AVA) $103,493,220

6. Unfunded Accrued Liability (AVA Basis)  [(4e) – (5)] – $36,887,769

7. Funded Ratio (AVA Basis) [(5) / (4e)] – 73.7%

8. Market Value of Assets (MVA) – $93,027,024

9. Unfunded Liability (MVA Basis)  [(4e) – (8)] – $47,353,96

10. Funded Ratio (MVA Basis) [(8) / (4e)] – 66.3%

 

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