In a San Jose ethics commission complaint Cheiron is accused of conspiring with San Jose’s Retirement Director Russell Crosby, professional actuary Michael Moehle, and Mayor Chuck Reed to use false and misleading pension estimates in order to scare the public and employees into taking cuts and pushing good old fashioned pension reform down the throats of organized labor.
Ramon Rubalcava of SEIU Local 721 provided public comment on behalf of SEIU Local 721 President Bob Schoonover supporting an asset smoothing period of 7 years with a 60% – 140% Market Value of Assets (MVA) corridor. But who is this ramon? He likes to drink and drive and cost seiu members money! He is …
I am so tired of SEIU lying to it’s members. Plain and simple yes it’s vested, NO I don’t want a bunch of incompetent morons removing that status or protection to make it a regular bargaining issue. Currently it can not be removed it is a vested right! If we do this SEIU and the …
- This Article was Directly Copied from the Coalition of LA City Unions website – The Coalition of unions consists of Laborers International Union (LIUNA) Local 777, Service Employees International Union (SEIU) Local 721, American Federation of State, County, & Municipal Employees (AFSCME) Council 36, Los Angeles/Orange County Building & Construction Trades Council, and International …
ERIP, Budget, Pensions and reality. Where are we now after the Coalition of City Unions promised ERIP Savior, Budget Outlook, Pension costs and comparisons, our reality we must accept and planning for the future. MYTH: ERIP, it was suppose to save jobs and protected us from furloughs and layoffs. FACT: It was a poorly written …
Paul Weber: Public employee pension ‘reforms’ recipe for disaster Paul Weber LA Daily News Aug 29, 2010 RECENTLY many opportunistic politicians around the state have been on rant against public employee pensions and calling for draconian “reform.” A more accurate description of would be: “It’s about time public employees joined the race to the bottom.” …
SEIU Claimed (1) Victory and that all MOUS approved the deal, this is still in question, and that the Early Retirement has Passed. What does this mean for the workers of the City of Los Angeles? How can this deal be passed if ALL unions have not completed their vote count? What is in store …
City of Los Angeles Full Lacers Board voted 4-3 in favor of the 15-year repayment period. ERIP to be voted on by Council Twice if Approved, the 45 Day Early Retirement window will open and employees will begin filing for Retirement. If Eligible please read the discussion forums area to make sure your classification has …
That the Committee recommend to the Board that the Unfunded Actuarial Accrued Liability associated with the City’s proposed Early Retirement Incentive Program (ERIP) be amortized over a time period that matches the actuarially-calculated salary savings period from the ERIP – 5 years (Method 2). Method 2 – Match the Amortization Period to the Actuarially-calculated Average …
Great articles on CALPERS, and there massive problems, anyone looking to them as a model for our system better think again. Calpers Betting the House Calpers is suffering too.