Wow, I been AWOL – missed all of April? Even April Fool’s Day Chico City Council meeting? Yep, I been busy, I got pots on the stove and irons in the fire.
I still look at the agendas when I get a chance to sit down (I have a timer going off right now, for two different chores) – looking over a Finance Committee report from February, I found a $12,846,466.00 payment to CalPERS.
Let me spell that out – twelve MILLION, eight hundred, forty six thousand, four hundred and sixty-six dollars. Now read it out loud. Repeat it to a friend, see if their eyeballs pop out. Cause if they don’t, you need to throw a bucket of cold water on their lobster tail and read it again. That’s a lot of fucking money folks, and we’re paying it.
See the agenda item below, for the CalPERS Unfunded Liability Reserve, created by employees to pay their own CalPERS deficit. Were you asked about this? No. They take the money from the General Fund, as of last June they had taken over $8 million. They took another $14 million+ over the last quarter, made the $12 million+ payment, and were left with over $9 million toward next year. Part of that money was Measure H. Here’s the agenda item from that Finance Committee meeting report.
903 CalPERS Unfunded Liability Reserve 6/30/24; (Actuarial) available balance 8,476,829; revenues 14,131,113 ; expenditures 12,846,466; xfers in/out 0 available balance 2/28/25 9,761,476. (includes the modified adopted figures from the report).
In the same report, there is another fund, 904, the Pension Stabilization Trust, through which they transfer the money from the General Fund. It’s like a laundering scheme. You really have to watch those walnut shells to see where that pea is going.
904 Pension Stabilization Trust 5/30/24 available balance 7,378,750 revenues 147,225 expenditures 11,406 xfers in/out 0 available balance 7,514,569 Modified adopted budget Revenues 0 expenditures 0 xfers in/out 764,035 available balance 8,142,785
Next year they intend to pay more than $18 million. That payment is in addition to their salaries and the payroll payments we make to CalPERS. These are the “catch up payments” that go to the deficit left by the completely ridiculous shares they pay toward their own retirement.
So think about this – we are paying these fuckers TWICE, once while they are “working”, and again while they go off to a plush retirement. And many of them take a “retirement job,” usually in the public sector, that adds to their pension, driving up the cost, for which they pay NOTHING.
If you’re not pissed off yet, you need to stick a fucking pin in your ass, just to see if you’re still alive.
Here’s one for you Scott – thanks for keeping me on my toes, Old Buddy. Chico PD and Fire Department are the biggest piggies in the trough. They generate over half the pension deficit. They need to pay a more rational and practical share of their own benefits, NOW. The cops need to write “mandatory overtime” out of the contracts. They need to “doff and don” on their own dimes. Etc. Read the cop contracts – they will complain loudly about the fire department “sleeping and playing video games” on the clock, but you should see the kind of crap their union demands in their contracts. The contracts are available on the city website, let me know if you have trouble finding them.
But yeah, we need a major overhaul of the city fire department, especially after the Park Fire. They sleep on the job because they are scheduled to work whole days on, instead of being given an 8 hour shift. Things need to be said Folks. And I’m sayin’ ’em. Scuse my French.