YourPublicMoney.com
 
   Holding California County Pension Funds Accountable HOME    About    Contact    Newsletter
 
General for All Counties   Focus on Mendocino County  
 


Helping Citizens Understand

Old Mendocino County Courthouse Around 1915

California County Pension Debt

 

Mendocino County's Pension Debt


What Happened - Really?


Fundamental Causes



Fundamental Causes of Unfunded Pension Debt


Choices -

Immediate v. Fundamental Causes

Failure of County Government

Perverse Incentive & Conflict of Interest

Profound Lack of Accountability

 

Before you can solve a big problem you first need to recognize you have one, then you need to really understand what the problem is.

We've Got the Medical Report - But What Was the Real Cause?

  A Patient Out Cold

Here's the wounded patient brought into the hospital - out cold.

  Mendocino County's Failing Pension Fund

And here's the debt Mendocino County's Pension Fund has imposed on the County - the picture of a failing Fund over the last 2 decades.

 
  Medical Report - the Immediate Cause for the Patient's condition

We've got the Medical Report about what specifically happened to the patient. (Shot - stabbed - feinted - whatever)

  Three Main Immediate Causes of Mendocino County's Pension Fund

And - each of these three factors caused roughly 25% of this debt:

  • The Pension Fund's rate of return was below target
  • The Fund didn't have enough money to invest
  • Use of "Excess Earnings" to pay Retiree Healthcare

A bunch of other things caused the last quarter.

 
Sherlock starts an investigation

But what really happened to the patient? Was it an accident? Attempted suicide? Or attempted murder?

And - what really happened to Mendocino County's Pension Fund? Is Mendocino County's unfunded pension debt an accident - an "Act of God"? Did someone or something outside the official structure do this to the Pension Fund as in attempted murder? Or did someone or something inside do it as in attempted suicide? Or negligent manslaughter?

This is a "heavy" section. First - I'll lay out what I firmly believe are the fundamental causes of Mendocino County's unfunded pension debt. Then I'll give a number of examples of specific actions and events I believe support these findings.

In my presentations I do it the other way around. I give a number of examples of actions that led me to my conclusions - then lay out what I think are the core causes of the debt.

You can go that way if you want by first reading "Examples" then "Conclusions".



 
 Valid XHTML 1.0! Home  Pension Basics  Reporting Fraud  21 County Funds  Mendo Debt  Debt Impact  Immediate Causes  Stories & Evidence  Basic Causes  Official Denial  Archives-Articles 
Contact Us

© 2008 - 2016 YourPublicMoney.Com
PO Box 301, Redwood Valley, CA 95470
Click to Send Email