Tired of getting your ass kicked and
handed to you concerning your pension? Well then do something about
it. Your employer may appear to be the source of your mugging, but
it is not. Your employer is only reacting to the daily butt kicking
it is taking from a gang of financial punks, who are being egged on
by the small government zealots. This group of gangbangers can't get
directly to you or your pension, but they can extort your employer
into doing it for them. There is never going to be peace until you
take these punks out.
Just who are these punks? A bunch of
East Coast lawyers, accountants, and actuaries who could not last one
day as a cop in South Los Angeles. Nothing but wimpy bureaucrats
hiding behind some faceless organization. You want names? I'll give
The Governmental Accounting Standards
Moody's Investment Services (Moody's)
The McGraw-Hill Companies DBA Standard
& Poor's (S&P)
Fitch Ratings (Fitch)
GASB is the source of accounting rules
for governments. It has no enforcement authority. It must rely on
surrogates to impose its will. Since its birth during the mid
1980's, GASB has become nothing but a goofy think tank for a bunch of
egghead fools. Just when you think GASB insanity has gone as far as
it can go, it sounds an even higher crescendo. Marvelous. The
ironic thing about GASB? It has never written a single rule
concerning pension funding (actually writing a check). Zilch! This
toothless tiger only writes rules concerning the presentation in
financial statements (ink on paper).
Then why in the hell are we getting
this GASB crap crammed down our throats? This is where Moody's, S&P,
and Fitch come into the mix. Yep, the same punks who are actually
threatening to down grade the credit rating of the United States of
America (the best credit risk on the planet). What a bunch of
pompous jackasses. Here is how they coop your employer.
First, the threat:
“Either do as we demand, or we will
lower your credit rating, causing you to pay much higher interest
rates when you borrow money.”
This is followed by the demand:
“You must use the GASB accounting
rules for actually funding your pensions.” (This means using real
money, not just the make believe money used in financial statements.)
Whoa, just a minute here. Pension
plans don't borrow money. They are investors of money. They don't
need no stinkin' credit rating. That is absolutely right, but the
employer is the obligated party for most pension plans today and it
does borrow money – lots of money. Here is the message:
“Either implement GASB rules for
actually funding (real money) your pension plans or we will break it
off in you when you borrow money to build a new sewer plant.”
Before you get all excited about
dumping the entire blame on this bean counter gang, you and your
employer are also complicit in the destruction of your pension plan.
Ever heard of spiking, retro-active benefits, and pension
Do you want to know how to take these
punks out? Be in Jacksonville on January 30th. The road
map will be given to you. Ron DeLord and Ron York will show you the
way out of the wilderness.
Ron DeLord will be the mastermind of
the operation. It doesn't matter whether you love him or hate him,
he is the guru and godfather of public safety collective bargaining –
right now in the year we live, 2013.
Ron York is the no nonsense battlefield
tactician who will give to you the playbook to get your pension under
your control and give the financial punks a kick in the butt as they
exit. The playbook is a real document and you will leave with it in
your hand. It is not “food for thought”, it is a “how to do”
Interested? It is not too late to
attend. Do the following:
Find a way to be in Jacksonville,
Florida on January 30th and 31st.
Book a room at the Courtyard by
Marriott – (904) 296-2828
Be at the Jacksonville FOP Lodge
at 9:00 AM on the 30th.
Bring your check book with you and
pay at the door ($250 per person).
The seminar will be presented at:
Jacksonville FOP Lodge
5530 Beach Boulevard
The seminar hotel is:
Courtyard by Marriott
4670 Lenoir Avenue South
30th 9:00 AM to 4:00 PM
31st 9:00 AM to 12:00 Noon
Your host will be Mr. Nelson Cuba. The
seminar is not an FOP function and all affiliations are welcome. We
have FOP, NAPO, IUPA, PBA, Teamsters and independent unions
registered. You are welcome. No one will be turned away. Nelson
has a large meeting hall.
Just what will be addressed that hasn't already been repeatedly presented coast-to-coast? That's a good question. The answer? Virtually everything. Ron Delord and myself will be presenting the blue print for your escape route from this pension hell you are now experiencing. It ain't pretty, but it is the only real option available today.
I received a phone early this morning from a very a cordial police officer in Florida. He ask this very question. It is a reasonable question. Where do I begin? I guess at the very heart of the issue - you have a problem, a very big problem. It is a financially lethal problem for you, your department, your pension, and your pay check. What you do today will determine the outcome of this assault. The problem is two-pronged and can be easily defined with two words:
1 - Appearance
A 90% pension and a 80% contribution toward medical insurance cannot be presented in a way that the public will support today. Forget all the arguments about how it is just payments in lieu of more money in your pay check. Just because it happens to be the truth does not matter. The time for making that case was long ago.
2 - Risk
Cities, counties and states want out of the pension and medical insurance risk business. They are going to get out - with or without your input. As a variation to Johnny Paycheck's famous song, government employers are singing "Take These Benefits and Shove It - I Ain't Paying No More."
So what are the possible solutions? Let's start by eliminating the really dumb solutions:
1 - Do Nothing
2 - Sue Their Butts
3 - Go Ballistic
4 - Vote The Bums Out of Office
5 - Smooze
Forget these dead end maneuvers. Here are the real solutions:
1 - Get your employer out of the pension and medical insurance business
Government employers are incompetent in these matters. Spare yourself a lot of misery and remove your employer from the equation. As along as the employer is in the mix there is going to be upheaval and duress, accompanied by constant bitching and complaining. 2 - Develop pension and insurance plans that mitigate risk
Risk from pension and insurance plans can be effectively controlled, but not by your city council and their spiritual adviser - The Governmental Accounting Standards Board (GASB). As for GASB, it is time for the D-I-V-O-R-C-E! GASB has morphed into some crazy religion that requires you to check your brain at the door. The only person interested in rationally controlling risk is you - the beneficiary. To the city, pension and insurance reform means reducing and eliminating benefits. Their approach is to leave the car in the garage to avoid the risk of an auto accident. It does work. I know what your next questions is:
Okay, Mister Wisenheimer, just how do you propose to create this marvelous opus? Actually the answer to that question is easy. Just getting you to even entertain the question is the difficult part, but DeLord and I are not beyond forced feeding. Most successful businesses are build upon a familiar motto - "The Customer Is Always Right." Our program assumes that the customer (that's you) is almost always wrong about these matters. What you will experience in Jacksonville on January 30 and 31 will not be a coronation like the Oscars. It will be more like detox - ugly (DTs and all).
Still interested? Then use the link below to learn more and sign up.