You may have read in today’s paper about a massive spike in the city’s annual pension payment — to $231 million or 42% of the entire city payroll. The pension crisis is real — and unless we make further reforms to the city pension system, San Diego will never regain its financial health.
I wish this view was shared universally at City Hall. Some city leaders are declaring victory in pension reform — arguing all that remains are “vested” benefits and legally untouchable.
Legally that is completely wrong — and financially it would be disastrous to city taxpayers.
I penned this op-ed for the San Diego Daily Transcript laying out FIVE pension reforms we can legally implement to save taxpayers millions annually.
Let’s encourage city leaders to put pension reform BACK on the bargaining table.
Read the entire op-ed here: http://ow.ly/Yl4J