Governor Scott's approval ratings

[Bob Wells]

Government workers don't get paid enough in some cases and get paid way too much in others - there are some pretty serious disparities in civil serivce pay in our state and our county. Our local firefighters enjoy six figure salaries and benefits in a county that has an average household income of around 35K a year, while our teachers "enjoy" around 70K a year in total compensation. I'd suggest you try to find solutions that balance the differences, if you do I think the citizens will listen.

Here we go again 30A, All our wage and benefits were NEGOTIATED, I can not help that we were able to show that 1, based on wages of other departments providing the same level of service requiring the same level of education and departments of approximately the same size we were able to establish our worth and was voted on and approved by the SWFD Fire Board and their Board Member Representative Mr Jack Abbit. As a side note, the survey was performed by the same group the District paid to perform the management wage survey. As for the retirement plan, I assumed you would have wanted to be in attedance this past Wednesday, because I felt that the Administrators of the plan, those that are hired that work for the Retirement Board explain the plan. Actually Dan Scopin was there for the whole meeting from WCTA and Bonnie was there for part of the meeting. I was disappointed that the only question that was asked was "why can't I have a copy of this" instead of the questions that seemed to have been running rampant on this board. Because I am not a numbers guy and have never played one I may regret posting what I was able to understand, so here it goes.
1, The plan is 13 years old
2, It is funded to the tune of 65%, I think that is what they said.
3, changing the pay assumption by 1.5% brings the funding to approximately 73%
4, when the plan started the plan had $70,000 in assets and was severely underfunded
5, as I understood it Wednesday the plan has $17,000,000 in assets
6, at this time we have 1 retiree that cost the plan $40,000 a year. I think that is what they said
7, to operate the plan it cost less than $50,000 a year
8, in 2008, when the plan took a large hit, for whatever reason they did not smooth the numbers over a few years which according to the way I understand it did cost more in the short term but was cheaper in the long term, NOT A NUMBERS GUY, trying to relay what was said as I understand it
9, Buzz's questions did not get asked although there was some discussion on his article that was addressed, wish he had been there so his concerns could have been addressed, he wasn't so he will do what he will do.
As I said Dan Scopin (spelling) was there, and I am sure he will be more than happy to forward all the info that was willingly provided to him upon his request.
Hope this answers at least some questions

 

[30ashopper]

None of which has anything to do with the income disparity in our county between what you make and what the average joe makes. This problem is even more acute when you realize average joes are taxed to fund your pay and retirement.

 

[Bob Wells]

And I pay the same tax, and if the average Joe wanted to be in a Union I would support his right and encourage his right to negotiate. Not sure, but some of your comments in the past have led me to believe that you have chosen to negotiate your pay and benefits as an individual and have even said you could not understand why anyone would want to go in as a group. I think there are strength in numbers and there are 2 sides at the negotiation table. The disparity as you put it is an average income, what say we see if the County Employees would turn down parity with employees from other counties doing the same job.

 

[wilcogal1974]

Government workers don't get paid enough in some cases and get paid way too much in others - there are some pretty serious disparities in civil serivce pay in our state and our county. Our local firefighters enjoy six figure salaries and benefits in a county that has an average household income of around 35K a year, while our teachers "enjoy" around 70K a year in total compensation. I'd suggest you try to find solutions that balance the differences, if you do I think the citizens will listen.

hmm.. 70k a year for teachers huh? My spouse was a full time teacher in the Walton county school district for four years and he was not "enjoying" anywhere near that amount in pay and benefits, and contributing money out of his own pocketbook for classroom supplies needed.

 

[beachFool]

7, to operate the plan it cost less than $50,000 a year
9, Buzz's questions did not get asked although there was some discussion on his article that was addressed, wish he had been there so his concerns could have been addressed, he wasn't so he will do what he will do.
Hope this answers at least some questions

I will be very surprised if that number "50K" includes the 20K+ in 12(b)-1 fees the plan is paying.

Actually the 12(b) 1 fees are subtracted from the mutual fund's performance but the fact remains the plan is using mutual funds with high expense ratios.

If I had known the discussion was going to be on the investment vehicles rather than a negotiating session between management and labor I would have been more inclined to show up.

 

[Bob Wells]

Buzz this was a regular scheduled meeting which have been scheduled from at least the beginning of the year. I would have been happy to have heard your questions asked and answered so that I could make sure the plan is being manage properly. Based on what I heard at the meeting, I believe it is.

 

[beachFool]

Buzz this was a regular scheduled meeting which have been scheduled from at least the beginning of the year. I would have been happy to have heard your questions asked and answered so that I could make sure the plan is being manage properly. Based on what I heard at the meeting, I believe it is.[/QUOTE

Your retirement plan had zero exposure to small cap US stocks as of 12/31/2010, an asset class that has returned 47% in 2009 & 29.5% in 2010.

I may be right or I may be wrong, you're gonna miss me when I'm gone.

Adios