The Santa Paula Police Officer's Association is comprised of the men and women holding the rank of Officer, Senior Officer or Sergeant who are sworn to protect the lives and property of the people of Santa Paula. The Santa Paula Police Department takes an active role in the community by supporting many youth and social organizations.
The Santa Paula Police Officer's Association would like to say thank you to those citizens in our community who have shown their support for us.
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Reason Foundation Report on Public Pensions Fatally Flawed
By CalPERS Staff Reports, June 14, 2010
A recent report that predicted that many state pension funds, including CalPERS, would be insolvent within two decades is fatally flawed. The report "How California's Public Pension System Broke (and How to Fix it)", authored by Joshua Rauh an assosicate professor of finance at Norwestern University's Kellogg School of Management, is yet another reckless attempt to mischaracterize the health of California's public pensions. Here's a round up of the reports shortcomings:
It relies on outdated data and methodologies that are incosistent with governmental accounting standards. It conjures up a half trillion-dollar liability and makes the falsehood that CalPERS and other pension funds are hiding trillions of dollars of liabilities. The report claims that CalPERS has underperformed for the 1,3,5 and 10 year periods ignoring the fact that we have earned a 7.9 percent return over the last 20 years, above the 7.75 percent rate of return that we assume to pay retirement benefits.
It goes so far as to call for the dismantling of defined benefit plans like CalPERS altogether that have provided reasonable retirement benefits and saved taxpayers millions of dollars over our 78-year history. It also fans the flames of pension equity between public and private sector workers for no reason than to stir the pot among haves and have-nots instead of considering the broader picture of retirement security for all Americans.
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The Santa Paula Police Officer's Association recently awarded two outstanding youth scholarships for their interest in pursuing a law enforcement career.
This year's recipients of scholarships are Cindy Bermudez and Eduardo Hernandez.
