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Entries in PERA (4)

Thursday
Mar292012

PERA holdings top $13 Billion! Where is the other $28 Billion???

VetTheGov checked the recent PERA filings via Securities & Exchange commission website to see their recent quarterly update report on January 24. 2012. The report shows stock holdings with 2443 publicly held companies with current value of $13.1 Billion. Yet Colorado PERA shows over $41 Billion in assets on their 2010 Annual Financial report. Yes read the fine print and the grand total includes 401K's, 457's, Deferred Comp plans, Health Care Trust funds, and a life insurance reserve. Are they allowed to show public employee funded private accounts as assets??? No breakdown of exactly how much is appropriated to any of these funds but you as the taxpayer are on the hook for any promises they make or claim. The scary part of this is that the health care trust funds both show a funded ratio of ONLY around 17% on page 3 of the annual report which means there can't be much in these funds! The entire PERA fund is only 66% funded to total liabilities with the biggest claim of a whopping 14% return on investments! Are they getting inside trader information???

It appears PERA uses smoke-screens in their funding numbers by adding in additional trust funds used to offset healthcare cost to its members. It allows for members that may or may not qualify for Medicare to receive an additional subsidy between 115.00 to 230.00 monthly depending on status and years of service. There is currently a bill being introduced in this years legislation that is seeking to strike certain language from it. See HB12-1250 here. PERA opposes this bill probably because it impacts over 37,000 that currently receive the subsidy! Click here to see all the PERA legislation this year alone!!! Why so much legislation for a fund we always hear is doing so well???

On page 7 in the annual report you notice their top 10 stock picks for 2010 but in their latest filing VetTheGov has their current top 10.

  1. Bank of America-10.3 Million shares Political givings
  2. GE-8.2 Million shares Political givings
  3. Pfizer-6.9 Million shares Political givings
  4. AT & T-5.6 Million shares Political givings
  5. Wells Fargo-5.1 million shares Political givings
  6. Oracle-4.7 Million shares Political givings
  7. Cisco-4.3 Million shares Political givings
  8. Exxon-4.2 Million shares Political givings
  9. JP Morgan Chase-4.0 Million shares Political givings
  10. Comcast-3.4 Million shares Political givings

Honorable Mention over 2 Million shares: Merck, Newscorp, Citigroup, Altria Group, Chevron, US Bancorp, Morgan Stanley

Notice a theme with the banks? Remember these are your private industry tax dollars funded directly into large corporations and you must take notice of the bailout related companies in the top 10! If you recall the great Ponzi schemes they all have the same indications of promises made by PERA. Promises of 8% returns annually and a check always showing up monthly on time so you never worry! If the government runs out they simply add more to the system by increasing the debt limit, find clever ways to increase taxes and fees, and poof your PERA check still arrives! In the meantime your retirement accounts are funding Oil & Gas companies, Big Banks, Pharma Companies, and Big News media outlets that continue the smoke & mirrors game to keep you guessing, confused, divided and owned! 

If the bailout monies were never delivered the whole scheme would have imploded. Big question is how many workers in the public and private sector does this scheme employ??? Is this why government feels the necessity to create a new green marketplace??? Is this why Big Government and politicians campaign about job creation all the time??? What about your tax dollars funding Big Unions and Big Media outlets??? What about your tax dollars funding Politicians you don't even like??? If you go to VetTheGov's earlier story on who these Big Corporations give to politically, you must ask what are they protecting??? They are protecting the biggest SCAM ever invented and where no one ever goes to prison and the PEOPLE stay enslaved without a clue unless of course you join the SCAM or figure a way to the top of the pyramid like a job in DC or high up in the ranks of a financial institution like Goldman Sachs or a Big Corporation like GE that don't pay any taxes just really enjoy taking them!

Look below and see if you can follow the scheme! At least following your tax dollars all the way to the President and the President's men appointed to the Federal Reserve might clear up a few things. If you look all the way through PERA's holdings you will find most of the companies listed below. 

When you follow the money trail or attempt to decipher it is no wonder our government, corporations, and media outlets try to keep the masses divided in order to keep the Scheme from imploding! Stay tuned for more updates in the near future! 

Sunday
Oct092011

Vote NO on Mesa Valley District 51 3B Mill Levy Increase and Why!

Today in the local Sentinel we finally heard the argument from the private small business owners perspective! VetTheGov has broken down the budget game in an earlier story which really gets to the root of the issue, overspending and underperforming and the CUT budget game! VetTheGov has also followed your tax dollars to DC and the politicians through its PERA story. Here is another Colorado county that has the same mill levy increase and for a similar dollar amount yet the facts don't add up there either.

It is very simple when discussing budgets. When submitting budgets governments typically request a best case scenerio of what they think they need for the year. Budgets are typical in the private sector along with many non-profits that must have a target in place. These school budgets then get approval based on annual funding from the Colorado Department of Education Board, Governor's office, and negotiated contractual mandates from the Colorado Education Association.

District 51 on page 18 shows 2011-2012 projected overall revenue of $208,737,201 from requested monies of $231,410,683. Taking numbers from the Sentinel of 21,123 pupils for the year which is $9882 per pupil funding. District 51 has never received this level of funding as you follow the years below of actual expenditures to the district from CDE.

2010-2011 still unavailable.

2010 All funds expenditures for District 51 were $201,300,376 for 20,996.2 pupil count or $9,587.00 per pupil funding PLUS $6,986,584 in TARP funding.

2009 All funds expenditures for District 51 were $199,263,059 for 21,041.8 pupil count or $9,470.00 per pupil funding.

2008 All funds expenditures for District 51 were $194,187,598 for 20,241 pupil count or $9,594.00 per pupil funding.

Source for funding http://www.cde.state.co.us/cdefinance/RevExp.htm

You can see based on wanted budget dollars and actual dollars received annually the information is used to promote drastic CUTS of over $23 Million yet they continue to receive more dollars every year. 

VetTheGov has been unable to find any decreases in revenue, only increases. Governments and School Districts have learned the budget CUT game to promote more taxes on the you the taxpayer with little or no resistance from the confused public. VetTheGov knows this is intentional and deceiving to the taxpayers. Therefore based on our budget research, VetTheGov promotes a NO vote on 3B and ask you to do your own research into government budget games! VetTheGov also would like the District to give the true reality of why they are always having budget issues! 

The tragedy of education is played in two scenes - incompetent pupils facing competent teachers and incompetent teachers facing competent pupils.  ~Martin H. Fischer

Monday
Apr182011

Colorado PERA, TARP Money, and the Politicians!!!

Have you have ever wondered why there never seems to be a difference in Washington DC politicians? It's because our tax money and their decisions are convoluted with Federal & State Pensions and Big Corporations, especially Large Investment Banks.

VetTheGov as stated in our last story on the School budgets has followed the Colorado Public Employee Retirement Association (PERA) pension fund all the way to the top TARP recipients. PERA's portfolio has a large portion of it's assets with many of the listed TARP companies. The connection to Wall Street and then on to the Politicians will have many of you scratching your heads.  In following the money trail of many State pension funds that are accessible online or via the Security & Exchange Commission website search engine, VetTheGov discovered a common theme. We are talking TRILLIONS of invested Tax dollars being poured into large corporations ranging from Oil & Gas companies, to large investment banks, the Tech sector, and everything in between.  

Why does VetTheGov use the word tax dollars for personal pensions by the public sector? Well because the Public Sector is mostly funded from your taxes right? What if you are a Public Sector Employee that gets matching retirement funding from the Local, State, or Federal government agencies you work for? In reality it is a two for one because the public sector salary is tax funded in which the employee contribution is tax money and then the matching contribution is again tax money. These pension funds are produced 100% by your tax dollars and currently fund many publicly traded companies such as Exxon Mobil, Microsoft, JP Morgan, Pfizer, Chevron, and many more including the top TARP recipients.

Here are the Top TARP recipients: AIG-$70 Billion; Citigroup-$50 Billion; General Motors-$50 Billion; Bank of America-$50 billion; JP Morgan-$25 billion; Wells Fargo-$25 Billion, Ally Financial-$17 Billion; Chrysler-$14 Billion; Morgan Stanley-$10 Billion; Goldman Sachs-$10 Billion; PNC Financial-$7.6 Billion; US Bancorp-$6.6 Billion; GMAC LLC-$5 Billion; Suntrust Bank-$4.85 Billion; Capital One-$3.55 Billion; Regions Financial-$3.5 Billion; Fifth 3rd Bank-$3.4 Billion; American Express-$3.4 Billion; BB&T-$3.13 Billion; NY Mellon-$3 Billion; and Keycorp-$2.5 Billion.  Keep reading, as the lines are dotted below!

So where do you think the concept originated of investing Public Sector money into publicly traded corporations? Under the Franklin D. Roosevelt Presidency who hired the organization Hewitt Associates which has recently been acquired by AON, which in Gaelic means, "Oneness." Hewitt Associates was the only firm involved in the task force that designed and implemented the Employee Retirement Income Security Act (ERISA). ERISA created a new government agency/corporation called Pension Benefit Guaranty Corporation (PBGC).  PBGC is a small government agency/corporation that employs over 900 federal employees with $460 Million in expenses. This federal government corporation insures individuals keep their pensions when corporations go bankrupt. The current financials show a NET financial position of negative -$23 Billion.  

Why such a close look into pensions you ask? VetTheGov believes many are very vulnerable Nationwide and globally and will eventually cause either the greatest depression of all time or create the highest taxes of all time or both. Using the accounting rules currently allowed there are many questions and information in these pension funds left unanswered. If you combine Social Security, Medicare, and Pensions all together it is no wonder Obama Care was born! Obama Care gives government control of the coming 10,000 monthly Baby Boomers soon to retire and start receiving Social Security benefits, Pensions, and Medicare that will completely overrun our entire big government and big corporation scheme!  It will make abortion numbers look acceptable when our elderly population begins to disappear because the cost is way too high to keep them alive. Keep an eye on the many band-aides yet to come. The debt ceiling is just one of the many to follow! Here is a great asset vs. liability State-by-State comparison on Pensions.  

This video by CBS 60 Minutes describes the coming Pension Tsunami at the State level. Speaking of Pension Tsunami's please visit their website to learn more of this crisis. Please take the time to educate yourself on this topic, as it will help make sense through all the smoke and mirrors by the media and the politicians. This website will give you California's top pension recipient's where the number one retiree receives over 500K annually.

How are the politicians benefitting and involved in this entire pension scheme? Well your tax dollars get funded right back to these politicians and you would be surprised which elected officials receive these dollars through the many corporate campaign donations. VetTheGov visited the Federal Election Commission's search site and entered the top TARP recipient's company name. You will see names like Chris Dodd, Barney Frank, Nancy Pelosi, Charles Schumer, Mitch McConnell, John Boehner, Richard Santorum, Mark Udall, John McCain, Charles Rangel, Jason Chaffetz, Tom Tancredo, Herman Cain, and many many more and some TEA PARTY surprises too! Can you say Michele Bachmann?  All of your favorites are buried in these reports somewhere with major contributions given to both political parties!

Here is AIG's PAC report - http://query.nictusa.com/cgi-bin/com_supopp/C00097725/  

Citigroup's PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00008474/

General Motors PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00076810/

Bank of America PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00364778/

JP Morgan Chase PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00128512/

Wells Fargo employee PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00128512/

Ally Financial PAC - See above GM PAC but note Ally is 72% owned by the Treasury Dept. and formally known as GMAC finance arm.

Chrysler PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00043687/

Morgan Stanley PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00337626/

Goldman Sachs PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00265124/

Goldman Sachs other PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00350744/

PNC Financial PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00035519/

PNC Financial other PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00186064/

PNC Financial yet another PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00141036/

US Bancorp PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00018036/

GMAC LLC PAC - See above General Motors PAC. 

Suntrust Bank PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00386524/

Suntrust Bank Florida PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00111567/

Capital One PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00326595/

Capital One other PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00149583/

Regions Financial PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00432252/

Fifth 3rd Bank PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00290502/

American Express PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00040535/

BB&T PAC - http://query.nictusa.com/cgi-bin/com_supopp/C00075291/

Bank of NY Mellon - http://query.nictusa.com/cgi-bin/com_supopp/C00017558/

Keycorp - http://query.nictusa.com/cgi-bin/com_supopp/C00073155/

VetTheGov completed the vicious money circle of your fine tax dollars at work. Hopefully now you are aware of the games from the government and who along with the many corporations try to protect each others interest in the scheme against you the American taxpayer. The protection given or implied is usually misguided/misleading media or talking heads in Washington DC, your State capital cronies, and your local government elected officials.  

The programs mentioned in this story are unsustainable models and why the government is over $14.3 TRILLION in debt with no end or slow down in sight! VetTheGov wanted to show you how all your tax dollars get co-mingled with Corporate Americas publicly traded companies and the United States Federal Government.  Do you think they really have your best interest in mind? 

VetTheGov again hopes this information was helpful and would love to hear any additional thoughts you may have or just a comment you may want to share.   

Friday
Apr082011

Mesa County School Budgets 101 and how the game is played!

VetTheGov spent some time looking into the media hype of why the local, state, and national media during so called budget cuts and why schools get targeted so quickly.  Hopefully this information helps you open your eyes and mind to where your tax dollars go when discussing school budgets. 

VetTheGov started with the State budget proposals, Colorado Department of Education Finance site and then looked close to home here in Mesa County Colorado District 51 posted budget from 2010-2011.  VetTheGov gave a quick glance at the current proposal by Democratic Governor Hickenlooper's administration and especially focused on the management portion on the budget line.  If you look here at the State's total Management budget you will notice that there is requested one more FTE (Full Time Equivalent) than the previous year along with $4,159,401.00 in additional funding.  The total for the Management budget is $49,791,498.00 for only 152.1 FTE's which breaks down to $327,360.28 per FTE.  For Mesa County District Schools office of Superintendent and Executive Directors on page 27 of the budget receive $1,638,236.00 for only 8.6 FTE's.  That equals $190,492.56 per FTE. 

In looking at the District level allocations in the proposed budget you will notice another increase.  The 2011-2012 fiscal year increase to $3,491,017,037.00 (yes this is in Billions of tax dollars) from the 2010-2011 budget of $3,180,288,681.00.  That is a $310,728,356.00 increase.  The current media is reporting a $250 Million decrease to school districts.  VetTheGov is struggling to figure out how they are playing with the numbers and Per Pupil Funding (PPF) allocations.  Here is Hick's latest proposal and YES VetTheGov was correct in that the cuts are coming from the increased line item so in reality there are no cuts but actual increases.  If the above media story is correct that it ended up that only $250 million was decreased in the overall line item then it is over a $52.8 Million increase from last years budget.  Also notice in the revised budget how they use the the Per Pupil Funding wording to state the funding decreased by $496.52 at the bottom of the page from the original proposed budget but not compared to last years budget.  You have to love how the government plays the taxpayers! 

VetTheGov followed the money trail on the actual funding monies provided to our local schools in Mesa County.  CDE only has up to date financials from the 2008-2009 fiscal year.  VetTheGov picked out a couple of interesting portions that create further questions.  In the allocations to the three districts located in Mesa County the Per Pupil Funding (PPF) was significantly higher than being shown on Mesa County's PPF numbers.  District 51 received $9,470.00 Per Pupil for 21,041.8 pupils for a total of $199,263,059.00.  Note here the District shows $6,713.92 Per Pupil for the 2008-2009 fiscal year.  These are the numbers we always hear in the media and so you can now see how they get skewed all the time.  So where does the other $2756.08 go and why isn't this counted in overall PPF? 

VetTheGov noticed a difference in benefit packages and allocations shown.  Here you will observe for the same 2008-2009 fiscal year Mesa County School salaries and benefits.  For District 51 the totals show $6,804.00 Per Pupil.  Another interesting item to point out is the benefit package totals of $28,318,337.00.  Per General Accounting procedures District 51 does not have to show totals of benefits that fund their retirement program called School District Trust Fund and Health Care Trust Fund in which both tie into the Public Employment Retirement Association (PERA).  The district only mentions percentages which are 8% from member and 14.75% match by the State of the covered salary.  Based on District 51 budget numbers they received $15,100,922.00 in revenue for Medical, Dental, and Insurance.  This leaves $13,217,415.00 left over for PERA matches which do not appear in the budget but accounts for $628.15 Per Pupil.  If you take out for PERA from the remaining $2,756.08 Per Pupil you still have $2,127.93 unaccounted for.

Here is where we find some interesting trends towards education.  The first is called Title I Part A.  From the website the purpose of these funds are, "funds support extra instruction in reading and mathematics, as well as special preschool, after-school, and summer programs to extend and reinforce the regular school curriculum."  This section of At-Risk programs found in the District 51 budget account for $20,324,070.00 or $965.89 Per Pupil.  Again the media never tells you of these additional funds funneled through the District for these additional welfare type programs.  If you read the top of the At-Risk section you will notice if a pupil is on the Free Lunch or Reduced Lunch program they are considered At-Risk.  VetTheGov would like to point out that over 45% of pupils qualified for At-Risk programs.  That means 9,756 pupils received free or reduced lunches while 11,686 did not. 

There are also several media reports and more focus being driven towards health and fitness and yet District 51 has a deal in place with Coke.  VetTheGov listens to media all the time that discussed these deals benefitted the schools budget and is why they approved vending machines into the schools.  VetTheGov found that this again is another loser program with the only one benefitting being Swire Coca-Cola.  As you can see the program hasn't made a dime since its inception and is currently on track to lose over $8,000.00 annually. 

VetTheGov is currently researching PERA benefits and a couple of questions come to mind.  First if you are in the PERA program which many are, What happens to your investment if the State of Colorado ever files BANKRUPTCY?  Secondly for Taxpayers, what happens if the PERA funds continue to lose their investment ratio of 8%?  Interesting to note PERA Operating budget for 2011 of $56,988,409.00 was approved by Board of Trustee's in November 2010.

Great charts and information on PERA: http://globaleconomicanalysis.blogspot.com/2010/01/colorados-pera-222-funding-plan.html

PERA paper by Dr. Barry Poulson: http://transparency.i2i.org/pera-transparency/

VetTheGov hopes you found this information helpful and we welcome any comments on this subject or any others of relevance.