With the story of Detroit and many other places, including the state of California, I wonder what the condition of the SM County retirement fund is. Is it fully funded or underfunded, and if less than 100% where does the County fit into the scale?
On reading the list of salaries of County employees in the Daily Post, with many police and firemen earning in excess of $150,000 including overtime, with even some bus drivers managing to earn $180,000, underfunded pension systems should be a significant worry for the future. Are the supervisors paying attention? Do they evn know of the problem if there is one? Does the County calculate pensions based on the salary earned in last year or three?