Wednesday, October 13, 2010 – 01:00 p.m.
Last Updated: October 13, 2010 – 08:25 p.m.
The blame game has already started related to the various allegations swirling around San Bernardino County’s government pension fund.
Employees and trustees of the San Bernardino County Employees Retirment Association (SBCERA) are now pointing fingers and casting blame for the now-public missteps at the pension fund.
The fund, which has been slowly recovering from more than a billion dollars in loses at the height of the stock and real estate market crashes, has fallen under scrutiny from county supervisors. The focus? The funds compensation practices and the awarding of sweetheart consulting contracts to people and firms who are either politically-connected or have ties to current and former insiders at the fund.
Some time ago, pension fund trustees approved a variable compensation structure for various employees of the pension fund, which made the individuals eligible for bonus compensation.




