[quote=bearishgurl]Uhh, phaster?? You’ve been straying off the subject here, as usual. This thread is about SDCERS/Prop B.
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[quote=bearishgurl]You’ve got Jerry Sanders and his “sidekick” Carl DeMaio to thank for this mess as well as the SDTPA and the Lincoln Club (who acted as “straw” plaintiffs for City) and their ilk.
You SD residents would do well to log all this info in the back of your brain and bring it out when needed as these idiots (who somehow believe they are “movers and shakers” in SD) will likely come up with more harebrained schemes for SD taxpayers to fund.[/quote]
sigh DDSS,…
(bearishgurl) since you have taken the blue pill – its apparent you believe whatever you want to believe!
for all other(s) who dared take the red pill (and consider the BIG PICTURE like RE investors on this forum), the BOTTOM LINE is,… as long as the “surplus earnings” (aka 13th payment) is siphoned off every holiday season for Gubment-Pensioner(s) (a term bearishgurl used to described herself) INSTEAD OF being used to maintain the pension system designed target return rate, the SD pension system as currently structured/operated AND using nothing more than “honest” common sense and middle school math tells us, that the un-funded DEBT issue will basically ALWAYS grow!
[quote] Supplemental “13th Check” benefit
The supplemental “13th Check” benefit is paid from trust fund assets to eligible retirees in years when the qualification formula specified in the Municipal Code is satisfied. When qualified, SDCERS will calculate and pay the 13th Check to all eligible retirees annually in November…
hence the PROP B debacle in truth is symptomatic of DISHONEST and DUMB money management (i.e. politicians, public employee unions and SDCERS ignoring a middle school math concept from the onset, AND continuing to do so!)
