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POLITICS | My Opponent, Supervisor Steve Bennett, receives “supplemental pay” to reimburse him for pension contributions deducted from his paycheck

POLITICS | My Opponent, Supervisor Steve Bennett, receives “supplemental pay” to reimburse him for pension contributions deducted from his paycheck

As though collecting 3 pensions at taxpayer expense isn’t enough, The Ventura County Star exposes yet another Bennett boondoggle. In their Op-Ed piece Published 8:29 a.m. PT May 28, 2019 titled:  Supervisors should contribute to pensions, they report: https://www.vcstar.com/story/opinion/readers/2019/05/28/supervisors-should-contribute-pensions/1252181001/ ” Recently, the Board of Supervisors laudably eliminated a loophole allowing for elected supervisors to receive compensation for serving […]

How to Assess Impact of a Market Correction on Pension Payments

How to Assess Impact of a Market Correction on Pension Payments

. by Edward Ring . On January 28, 2018, the Dow Jones stock index closed at a record high of 28,610. Nine days later, on February 6, the Dow index hit an intraday low of 24,198, a drop of over 15 percent. Since then the Dow index has recovered somewhat, along with other stock indexes and […]

California Government Pension Contributions Required to Double by 2024 – Best Case

California Government Pension Contributions Required to Double by 2024 – Best Case

by Edward Ring The employer contribution to California’s state and local government pension systems will double, from $31 billion in 2018 to $59 billion by 2024. This estimate is based on aggregating official projections of cost increases issued by CalPERS to their participating agencies, and extrapolating those projections show the overall impact on all of California’s […]

Public safety unions seek to exempt themselves from new pension contribution law

Public safety unions seek to exempt themselves from new pension contribution law

By Phil Molina The Oxnard police and firemen unions want to be exempted from the current retirement law. The current law requires new police and firemen to pay half of the cost of retirement and the city pays the other half. (By the way this was the standard formula when I worked in local government […]