SO CA UFCW – Update

One of the five large multiemployer plans who are the biggest threats to the system, as fingered by an Institute for Pension Fund Integrity issue brief, just submitted another 5500 filing:

Liar’s Circus

An amazon review of the book piqued my interest:

I read this book seeking to understand why so many support a leader so obviously corrupt, incompetent, and anti-American. The author befriends many avid rally goers and details a close up account of their lives, beliefs and motivations. I appreciate that he treats these supporters in a humane and understanding way. It is a fascinating deep dive into an alternative universe of conspiracy theories, grievance, racism and falsehoods, unencumbered by reason, facts, science ,or expertise. After reading it I felt enlightened and enraged and more concerned than ever about the future of the USA.

My excerpts:

Trump Rules

A Trump apologist parroted some new rules on Trump’s accomplishments:

Of course Grenadans must be relieved not to have been invaded but who wouldn’t be able to build up the greatest economy (pre-covid) and military* when allowed to also build up the greatest debt ($25 trillion conservatively – also pre-covid)?

However, what may be Trump’s true gift to the majority of Americans went down this Thursday.

Musicians File

It was reported that the American Federation of Musicians and Employers’ Pension Fund will apply to reduce benefits under MPRA. Nothing yet on the website but today their 5500 form for the plan year ended March 31, 2020 was filed.

Sinking in the Swamp (2)

Subtitled ‘How Trump’s Minions and Misfits Poisoned Washington’ the book from early 2020 paints Trump as a narcissistic, incompetent scam artist whose governing style eerily recalls this guy’s:

Sinking in the Swamp (1)

Subtitled ‘How Trump’s Minions and Misfits Poisoned Washington’ the book from early 2020 paints Trump as a narcissistic, incompetent scam artist through stories from the the mostly little people around him. You may have heard these before but they are new to me.

Breaking News: Second New MPRA Filing

Appearing today on the MPRA website, Roofers Local No. 88 Pension Fund out of Merrillville, IN filed to cut benefits.

From their latest 5500 filing:

Planning Capitol Attack

Mikie Sherrill (D-NJ) went on social media last night to call for Trump’s removal from office but towards the end of her speech:

What you have seen is either direct evidence of treason by unnamed members of Congress or slander by Mikie Sherrill. There need to be serious consequences for one or the other.

NJ OPEB Update – 2019

Per the NJDPB website:

12.14.20 The GASB 75 Reports for the Local Education Retired Fund are now posted.

1.11.21 The GASB 75 Reports for the State Retired Fund are now posted.

There are three separate reports for state, local government, and local education which throw a lot of distracting numbers at you but, when added up, show an amazing 1/3rd reduction in the total OPEB Liability (from $110 billion as of 6/30/16 to under $74 billion as of 6/30/19) that the state can brag about to the credit rating agencies. How did they do it? Benefit cuts? 

No. Just telling the people you hire to give you the numbers that you want to see. Here is how they did it:

Breaking News: New MPRA Filing

Appearing today on the MPRA website, Arizona Bricklayers Pension Trust Fund out of Phoenix, AZ filed to cut benefits.

From their latest 5500 filing: