DeMaio and Frye Outline Bipartisan Pension Reforms

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Continuing their bipartisan partnership to bring real reform to the city’s troubled pension system, Councilmembers Carl DeMaio and Donna Frye are asking the Mayor and City Council to act this year on pension reform.

“A number of pension reform options do exist to help save taxpayers millions each year and achieve retirement security for city employees,” DeMaio and Frye write in their memo.  The memo comes on the heels of a City Attorney opinion outlining several possible avenues for pension reform – and just a week after news broke that the city’s annual pension payment spiked to $231 million or over 42% of city payroll.

“The Mayor and City Council have a number of legal avenues to reduce the cost of retirement benefits for city workers – and we should make reform a bipartisan issue at City Hall,” commented DeMaio.

Read the full memo here.

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