Santa's Getting Ready...

SMILES GUARANTEED

So, here's a little early Christmas cheer for you. I gave you this "gift" a couple years ago, so you might consider this a kind of "re-gifting" event.
Enjoy...
Labels: Christmas
A FEW FACTS AND A LOT OF OPINION Copyright © 2006 - 2021 Geoff West - All rights reserved
Labels: Christmas
Labels: Barett-Jackson, Dave Ellis, Jim Righeimer, Nick Berardino, Tom Hatch
Labels: Snoopy House
CalPERS Issues Response to Stanford Pension Study
Below is the statement which CalPERS issued today in response to the
Stanford Pension Study. It can also be found on our CalPERS Responds
website at:
http://www.calpersresponds.com/issues.php/stanford-pension-study
CalPERS today responded to the Stanford Institute for Economic Policy
Research (SIEPR) report examining CalPERS, the California State Teachers'
Retirement System (Casts) and the University of California Retirement Plan
(UCRP):
"The study is written from a perspective that is intended to exaggerate
perceived costs and the instability of pension systems," said Ann Boynton,
Deputy Executive Officer of CalPERS Benefit Programs Policy and Planning.
"The report's findings were based on low discount rates to artificially
magnify unfunded liabilities. It is important to remember that CalPERS
invests in a highly diversified portfolio that includes stocks, real estate,
and other assets that have historically earned significantly higher returns
than the rates assumed in the study."
The health of the CalPERS fund has improved in the last two fiscal years as
noted below:
Over the past 20 years through June 30, 2011, CalPERS has earned an
average annual investment return of 8.4 percent in excess of the pension
fund's actuarial rate of return assumption of 7.75 percent needed to pay
long-term benefits. The Fund has achieved this rate by investing in a
diversified portfolio with an acceptable level of risk. This historical
average includes steep losses experienced in 2008-09.
As of the most recent fiscal year end, the Fund earned a 21.7 rate of
return and gained back $60.8 billion from the recent 2009 low of $181
billion. CalPERS assets currently stand at more than $224 billion.
CalPERS has maintained good levels of funding and delivered promised
benefits for 80 years. Currently we are near a 75 percent funded status,
with an unfunded liability of $85-90 billion.
For every dollar paid in pension benefits over the last 20 years the vast
majority came from investments:
Investment earnings 66 cents
Employer contributions 21 cents
Member contributions 13 cents
More information on CalPERS pensions is available in our Guide to CalPERS
Pension Facts.
For additional CalPERS news and information, visit our Press Room at:
http://www.calpers.ca.gov/index.jsp?bc=/about/press/home.xml
NUMBERS MAKES YOU DIZZYAnd so, round and round we go, looking for the truth about the pension situation in our state and, by extension, in our city. There's nothing like more conversation about unfunded liabilities to get you out of the old Christmas spirit.
Labels: Pension Reform
Labels: Bill Lobdell, Snoopy House, Tom Hatch
Labels: Art Perry, Costa Mesa Sanitary District, Gary Monahan, Jim Fitzpatrick
The elaborate display of Peanuts characters has been an Orange County holiday tradition for 45 years, attracting an estimated 80,000 visitors annually. But this year, due to a home foreclosure, the future of the Snoopy House had been in jeopardy until the City of Costa Mesa stepped forward last week and agreed to host the display and provide other assistance.
The Snoopy House will be available for viewing from 5 to 10 p.m. nightly through New Year’s Eve. And Santa will be visiting from Dec. 13 to Dec. 23. Children and their families can get free photos with Santa.
In addition to the Snoopy House, the City of Costa Mesa is putting on its first Holiday Lights Spectacular, which will involve more than 100 spotlights that will change colors with the help of a computer program and be shown against the mid-century modern, exposed white beams of City Hall.
The opening night ceremony will be hosted by City Chief Executive Officer Tom Hatch and feature carols sung by a local choir, short speeches by City council members, special Snoopy cheers from Costa Mesa High School cheerleaders, and a heartfelt thanks to the community from Jim Jordan, whose family has put on the Snoopy House for more than four decades.
Because of this year’s unusual circumstances, the 45th annual Snoopy House has been put together in little more than one week. The City and the Jordan family are still looking for volunteers, community groups (for both nightly entertainment and for volunteers), and donations. Those interested in volunteering or contributing a needed item or money can contact City staff member Sylvia Chalmers at (714) 754-5099 or e-mail her here.
Labels: Bill Lobdell, Snoopy House