Recently I put out a post regarding the massive overfunding of the Gov pensions. Overfunding equaling in the trillions of dollars when looking at composite totals.
In my investigations I found out something that floored me in respect to one way local governments hide vast revenue outside of the view of the public.
Hopefully you are sitting down when you read the following.
Are you ready for: Government owned Cemetery management.
Well, being that Gov owned (city, county, state and federal) cemetery plot management is a long term "venture" such as pension fund management is for the living Gov employee, the local governments have set up an annuity pension fund management for those taxpayers who are now resting comfortably under ground.
For each of these non-complaining taxpayers, the Gov figures the actuary cost for indefinite care and management of each plot and it's surroundings on an ongoing basis for all time to come to determine the balance of the trust account. This is done in the same way that an employee pension fund is structured as are the Gov cemetery trust management accounts. The only difference over the living employee pensions is they don't have to account for those who are going to get fired, use medical benefits or take early retirement. This pension fund contract is taken out till kingdom come and includes Gov and private sector participants.
This is no joke. When looking at composite totals, hundreds of billions of dollars have been squirreled away under Gov owned Cemetery Plot Trust (pension) management. Think of the number of individuals already buried and the actuarial projections for future plot management and claimed new fiduciary responsibility as those actuarially determined balances allow for massive overfunding.
This is one of the best kept secrets for hoarding revenue by those local governments using this investment trust management tactic. But let's not forget the rights of the buried to be assured continued grave security. So what if the clowns from local gov have used this tactic to create wealth centers of operation to continue building their empires. The stiff taxpayers
are truly secure in their future Gov death benefits from the massive over funding of these accounts. (to bad they still can't vote).
I recommend that everyone getting this post dig deep. (no pun intended)
Get a copy of the CAFR or Combined Financial Statement for your local government owned: Cemetery Annuity Trust Management account (or something close to that title). Don't be surprised if a few squirrels from your local government start getting real nervous. And don't be surprised when you look, that you find enough surplus revenue to build a completely new school district for your county and fund it's operations for several years
Walter J. Burien, Jr.
C. E. V. I.
P. O. Box 11444
Prescott, AZ 86304
Please send bug reports to the Information .