DeSantis for the win

[Tsing Tao]

I never thought that DeSantis was picking stocks. However as a Trustee he should be addressing a situation where a pension plan is significantly underfunded and providing direction the problem needs to be fixed. That is part of his fiduciary oversight duty... or do you not understand the basic expectations of a trustee.

Have we seen a single statement from DeSantis about fixing the underfunding of Florida's pension plan?

So all the other governors are addressing the underfunding? Have we seen statements from Cooper about fixing the underfunding of NC's plan? How about California? New York? Illinois? Texas? Arizona? on and on and on.

Do you actually understand how underfunding works in pension plans?

 

[gwb-trading]

So all the other governors are addressing the underfunding? Have we seen statements from Cooper about fixing the underfunding of NC's plan? How about California? New York? Illinois? Texas? Arizona? on and on and on.

Do you actually understand how underfunding works in pension plans?

In North Carolina -- the elected State Treasurer is responsible for the pension fund and is a chair trustee on the board, not the governor. And yes, State Treasurer Dale R. Folwell, CPA has issued many statements and put a plan in place to address the underfunding in the North Carolina TSERS and LGERS pension funds.

I should also note that the over dozen trustee board members in N.C. include financial professionals plus representatives from the government entities the pension fund supports (law enforcement, state guard, teachers etc) -- as required by state law. Chairman Folwell is a CPA. Is DeSantis a CPA? What qualifications does DeSantis have to sit on the Trustee board of Florida's pension fund? Do any of the three pension Trustees in Florida have any financial background whatsoever? Tell us why there are no representatives of the state employees as Trustees on Florida’s pension fund board - after all this pension is supposed to be for their benefit.

https://www.myncretirement.com/gove...-boards-trustees#meet-the-tsers-board-members

 

[Tsing Tao]

In North Carolina -- the elected State Treasurer is responsible for the pension fund and is a chair trustee on the board, not the governor. And yes, State Treasurer Dale R. Folwell, CPA has issued many statements and put a plan in place to address the underfunding in the North Carolina TSERS and LGERS pension funds.

I should also note that the over dozen trustee board members in N.C. include financial professionals plus representatives from the government entities the pension fund supports (law enforcement, state guard, teachers etc) -- as required by state law. Chairman Folwell is a CPA. Is DeSantis a CPA? What qualifications does DeSantis have to sit on the Trustee board of Florida's pension fund? Do any of the three pension Trustees in Florida have any financial background whatsoever.

https://www.myncretirement.com/gove...-boards-trustees#meet-the-tsers-board-members

My guess is the governor always sits on the trustee board. You should probably research how many states have it set up that way. I think you'd be surprised.

I get that you're desperate for finding some dirty laundry on DeSantis. I would be too if I were a raving lunatic obsessed with a state I don't live in that made all my beliefs out for the horseshit they were. But come up with something that is directly wrong with DeSantis. Don't just criticize him for things that are the normal course of business everywhere you look.

DeSantis can't do everything overnight.

 

[gwb-trading]

My guess is the governor always sits on the trustee board. You should probably research how many states have it set up that way. I think you'd be surprised.

I get that you're desperate for finding some dirty laundry on DeSantis. I would be too if I were a raving lunatic obsessed with a state I don't live in that made all my beliefs out for the horseshit they were. But come up with something that is directly wrong with DeSantis. Don't just criticize him for things that are the normal course of business everywhere you look.

DeSantis can't do everything overnight.

So in summary - DeSantis has no plans to fix Florida's pension under-funding despite being one of the three trustees on the board.

And the rant above is the best response you can come up with.

Let's try to see if you can actually answer the basic questions (second try).

What qualifications does DeSantis have to sit on the Trustee board of Florida's pension fund? Do any of the three pension Trustees in Florida have any financial background whatsoever? Tell us why there are no representatives of the state employees as Trustees on Florida’s pension fund board? - after all this pension is supposed to be for their benefit.

And BTW -- I cannot find a single other state where the Governor is a trustee for the state pension fund. Despite a search. Please enlighten us if you know of any.

 

[Tsing Tao]

So in summary - DeSantis has no plans to fix Florida's pension under-funding despite being one of the three trustees on the board.

And the rant above is the best response you can come up with.

Let's try to see if you can actually answer the basic questions (second try).

What qualifications does DeSantis have to sit on the Trustee board of Florida's pension fund? Do any of the three pension Trustees in Florida have any financial background whatsoever? Tell us why there are no representatives of the state employees as Trustees on Florida’s pension fund board? - after all this pension is supposed to be for their benefit.

And BTW -- I cannot find a single other state where the Governor is a trustee for the state pension fund. Despite a search. Please enlighten us if you know of any.

1. Just because DeSantis has not announced any plans to "fix florida's pension under funding" doesn't mean he has none - it just means he hasn't announced anything. You've never been good at critical thinking.

2. Many, many other states have underfunding problems as well, including your beloved paradise of North Carolina. Some states are much, much worse.

3. The SBA you're referring to manages hurricane and disaster funds and 25 other non-pension related funds. If you had looked at previous year minutes, you'd see that the governor of Florida is always a trustee. Its not a DeSantis thing any more than it was a Rick Scott thing, or a Charlie Crist thing (all previous trustees)

Give it a rest, ya clown.

 

[Cuddles]

What qualifications does DeSantis have to sit on the Trustee board of Florida's pension fund? .

He's a corrupt GQP POS?

Damn, that was easy

 

[gwb-trading]

1. Just because DeSantis has not announced any plans to "fix florida's pension under funding" doesn't mean he has none - it just means he hasn't announced anything. You've never been good at critical thinking.

2. Many, many other states have underfunding problems as well, including your beloved paradise of North Carolina. Some states are much, much worse.

3. The SBA you're referring to manages hurricane and disaster funds and 25 other non-pension related funds. If you had looked at previous year minutes, you'd see that the governor of Florida is always a trustee. Its not a DeSantis thing any more than it was a Rick Scott thing, or a Charlie Crist thing (all previous trustees)

Give it a rest, ya clown.

Not really interested in your constant re-direction.

Let's try to see if you can actually answer the basic questions (third try).

What qualifications does DeSantis have to sit on the Trustee board of Florida's pension fund? Do any of the three pension Trustees in Florida have any financial background whatsoever? Tell us why there are no representatives of the state employees as Trustees on Florida’s pension fund board? - after all this pension is supposed to be for their benefit.

Let's take a look at the Governance standards for the "National Association of State Retirement Administrators". Can you spot how many ways Florida violates proper pension governance standards?
https://www.nasra.org/governance

P.S. -- There is not a single state found besides Florida where the governor is a pension trustee. Do you claim otherwise?

 

[Tsing Tao]

Not really interested in your constant re-direction.

Yeah, facts are always a pain in the ass to you - I get it.

Let's try to see if you can actually answer the basic questions (third try).

I've answered you. If you don't like the answer, I can't help you. I said that "my guess is the governor always sits on the board". And I was right. The Florida governor always sits on the board. That's the qualification. Governor.

P.S. -- There is not a single state found besides Florida where the governor is a pension trustee. Do you claim otherwise?

I'll have to look and see. But even if Florida is the only state, its not a DeSantis thing - its been in place long before him. And that's the point.

From YOUR LINK on NASRA:

Governance

Public retirement systems and the benefits they administer are established in statute and their assets held in trust. For state-sponsored retirement systems, governance typically involves the governor, legislature, retirement system board of trustees, and staff to whom the board has delegated administrative responsibility. Types and degrees of responsibility and authority vary among boards, depending mostly on differences in state laws.​

 

[gwb-trading]

Yeah, facts are always a pain in the ass to you - I get it.



From YOUR LINK on NASRA:

Governance

Public retirement systems and the benefits they administer are established in statute and their assets held in trust. For state-sponsored retirement systems, governance typically involves the governor, legislature, retirement system board of trustees, and staff to whom the board has delegated administrative responsibility. Types and degrees of responsibility and authority vary among boards, depending mostly on differences in state laws.​

As noted - the Governor and the Legislature are involved in appointing qualified Trustees. The Governor and Legislature members do not sit on the board itself as a Trustee.

Typically the Governor and Legislature each have a number of appointments. Some of these appointments may be restricted- meaning they must be state employees who are teacher, police, etc. Others are open to qualified professionals. A number of states have some appointees directly from employee associations. A small number of states also have Trustees who are elected.

Now stop deliberately misreading the governance material and pretending it is recommended in any manner that the Governor is a Trustee. Florida is unique in this governance failure.

 

[Tsing Tao]

As noted - the Governor and the Legislature are involved in appointing qualified Trustees. The Governor and Legislative do not sit on the board itself as a Trustee.

As noted - that isn't what it says. It says: Public retirement systems and the benefits they administer are established in statute and their assets held in trust. For state-sponsored retirement systems, governance typically involves the governor, legislature, retirement system board of trustees, and staff to whom the board has delegated administrative responsibility. Types and degrees of responsibility and authority vary among boards, depending mostly on differences in state laws.

Oversight typically involves the Governor. End of story.

All you're doing is nitpicking in a desperate attempt to have some credibility (which is a joke, since everyone on this forum thinks you're a yambag). Give it up.

DeSantis isn't doing anything that other governors didn't do. Florida has lots of things wrong with it you can pick on. This isn't one of them, and DeSantis isn't at fault.

You're a clown.