The Problem: The Ventura County Employees’ Retirement Association (VCERA) is poorly positioned to stay properly funded in the coming years, and local taxpayers may be forced to pick up a hefty tab of unfunded liabilities if substantive changes are not made in the near future.Read More
If you are self-employed and in the top echelon of earners, there is a big potential retirement-plan tax break available to you—and you don't even have to be Mitt Romney to get it.Read More
Certain trustees on the board of administration of the San Diego City Employees’ Retirement Association took umbrage at the suggestion by City Councilman Carl DeMaio and Councilwoman Donna Frye that they refrain from studying tinkering with the actuarial funding methods.
After all, those trustees, and their Chief Executive Officer David Wescoe, were just gathering information. And silencing the investigation was compared to the council members meddling in pension business.Read More
Those who aren’t already immersed in actuarial science may find reviewing the basics of retirement-plan funding worthwhile.
The cost of a retirement plan is paid for in installments over the working life of each employee. Each installment is invested and the income from those investments reduces the total cost of his pension to him and the city. This investment-income portion normally amounts to about 80 percent of the total cost of a worker’s benefits.Read More
It’s been a while since a San Diego mayor has been accused of tampering with the pension system.
But Mayor Jerry Sanders’ recent announcement that he is replacing three pension board members appointed before he took office has raised concerns that Sanders is angling to revise a relatively unknown aspect of the pension system.Read More