Forum Replies Created
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if “affordability” is defined as the typical household looking to spend no more than 30 percent of its income on housing (in the 35 largest metro areas in the U.S.A.) then zillow has an interesting info-graph showing “affordability” vs “interest rates”
NOTE for the info-graph,… the current average 30 year fixed mortgage rate for the U.S. was 4.63 percent
no surprise that metro areas w/ in CA are the least “affordable” so income property seems to be the least risky investment as long as the overall economy is positive and the CA region remains having a favorable public impression BUT given various storm clouds on the horizon think it prudent to have a hedge strategy AND a rainy day cash reserve to ride out an inevitable financial storm
let’s recap,… PUBLIC PENSION DEBT GROWING!
http://www.TinyURL.com/InvestorWarning
SDCERS’ Board of Administration (Einsteins of portfolio management),… let’s add DEBT to the EXISTING DEBT
[quote=SDCERS Board]
SDCERS Board Approves 13th Check and Corbett Benefits for 2018At its November 9, 2018 meeting, the SDCERS’ Board of Administration approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2018 monthly retirement benefit.
The “13th Check” and Corbett settlement benefits are paid in years when the realized investment earnings of the fund are sufficient to pay them.
https://www.sdcers.org/News.aspx?tagname=13th+Check+and+Corbett&groupid=9
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[quote]
Why school districts must focus on financial plansOnly one of 42 public school districts in San Diego County enjoys a positive balance sheet, Spencer Valley Elementary in Santa Ysibel. The balance sheets of the other 41 districts are dipped in red ink, some substantially.
The scoring comes from my recent report, “Financial Soundness Rankings for California’s Public School Districts, Colleges & Universities.” It reviewed the financial soundness of all 944 California public school districts.
Q. Why school districts must focus on financial plans
A. To prevent,…
[quote=bearishgurl]Uhh, phaster?? You’ve been straying off the subject here, as usual. This thread is about SDCERS/Prop B.
[/quote][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” benefitThe 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…
http://www.doughroller.net/investing/power-of-compounding-interest/
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!)
http://www.TinyURL.com/InvestorWarning
BTW since you appear to have resurfaced for election season,… after a long absence,…
https://www.piggington.com/ot_predictions_2016_presidential_election?page=21#comment-273514
not to change the subject off of the idiotic mismanagement of SDCERS/Prop B but have to ask is Trump as POTUS everything ya hoped for?
[quote=Mark 13:22 rsv]
For false messiahs and false prophets will appear and perform signs and wonders to deceive, if possible, even the elect.
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[quote]
America is in the midst of a pension crisis: Around half of all states haven’t saved nearly enough money to pay for the benefits they’ve promised to government workers — and the total shortage adds up to trillions of dollars.
Who is responsible — and what is at stake for the country’s teachers, police, firefighters and other public employees?
Those questions are at the heart of The Pension Gamble, a new FRONTLINE investigation that comes to PBS tonight.
In the documentary, producers Marcela Gaviria and Nick Verbitsky and correspondent Martin Smith trace how state governments have withheld pension contributions to cover shortfalls, and waged risky bets on Wall Street.
“This is a story about having your retirement, that you thought was secure, go south — and it’s a story that impacts millions of Americans,” says Smith, who with Gaviria previously investigated another element of retirement in America, the 401(k) industry, in 2013’s The Retirement Gamble.
Now, Smith goes inside the volatile fight over pensions playing out in Kentucky, a state whose once-flush pension system for its police, firefighters, teachers and other public workers is now among the worst-funded in the nation.
It’s a fight with broader consequences for public employees everywhere — and it’s a documentary you won’t want to miss.
The Pension Gamble premieres tonight at 10 p.m. EST/9 p.m. CST on PBS stations (check your local listings) and online at pbs.org/frontline.
https://www.pbs.org/wgbh/frontline/film/the-pension-gamble/?utm_source=newsletter
[/quote][quote=sandiegouniontribune.com]
San Diego spending $100K for estimate of how costly pension ruling could be
http://www.sandiegouniontribune.com/news/politics/sd-me-pension-crisis-20181003-story.html
[/quote]other than the headline, seems the reader responses were more informative than the UT news paper article
[quote=UT readers]
…City of San Diego employees {except for hourly employees} have not been in Social Security since September, 1981.…SD City employees have been out of Social Security since 9/81 and that was done on a promise of lifetime medical care for retirees and a pension better than SS.
…The majority of tax increases in California over the past few years (and those proposed on the ballots all up and down the state now) have been to fund pensions. The politicians, being the devious types that they are, just don’t use pensions as the rationale, they say things like “public safety,” “education,” and “infrastructure.”
…The difference between a 401k and a pension is that with a 401k plan the retiree receives the money that has been placed in their own account which grows based upon the investment returns. They own the account and can transfer it to their next employer.
A city pension plan provides a defined benefit but that is not guaranteed. As the judge ruled in the Stockton bankruptcy a pension can be impaired in bankruptcy.
The risk of both pensions and 401k’s is that they do not make their assumed rate of investment return. Unfortunately, with a pension the risk falls on taxpayers because of the rules pensions operate under.
So there is plenty of risk to go around, especially for plans that are grossly underfunded.
…The longer the City delays the more it will cost to meet the Court’s requirement.
…Once again, the UT fails to provide basic information. Who is the consultant?
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