Is Gray Davis Looting California Retirement Funds?

California State Assembly Republican Caucus ^ | August 18, 2002 | the calpowercrisis gang

[CurlyDave]

Sorry but which unions are the backbone of the Califroni (or national) Democratic Party? Public employee unions and teachers. Lie down with dogs and you get fleas...

My wife is a Professor in the State University system.

1. The bottom line is that no matter how much one dislikes the union one must pay union dues.

2. She has to participate in the PERS system, which is actually a pretty good system.

3. She does not willingly "lie down with dogs." In fact she does a lot to support the conservative cause. Some of her classes cover public policy as it relates to welfare & children. She uses materials from the CATO Institute to show students the truth of these issues.

[Kozak]

This was not meant as a personal insult to your wife. Nevertheless, the fact that the unions which are the greatest source of financial, and political capital for the Democrats getting hosed to bail out the incompetance of their commisars is choice. Perhaps the rank and file will finally get a clue as to just how destructive a force they have become in driving the state on the road to serfdom.

[A CA Guy]

So where is the commercial on this from the CA Republican Party 24-7 until election day?

Use it or expect to lose it you spineless wonders!

[snopercod]

Anybody have a financial calculator to play with those PERS numbers? We know the present value and future value, so it would be simple to assume some things and come up with some hypothetical numbers.

[Robert357]

Yes, I do have such a calculator, but their are too many variables......loan period (in years), effective interest rate, amount of diferred interest or prinicpal payments, etc.

To really know what is going on, one would have to look at the form of the borrowing, which should be available to PERS employees (one would think?)

[snopercod]

A REAL engineer could figure it out! <R,D,&G>

I couldn't resist. How about assuming 30 years, compounded monthly. Or conversly, assume 4% interest rate compounded monthly, and solve for the number of periods.

Try annually if monthly doesn't work.

[NormsRevenge]

This system is so great for doing cooperative work!

I just want Davis out of there!

BUMP