The debate is now a question of pension reform light versus pension reform right. The Mayor said just a year ago that the pension system was already fixed. Now he’s admitting that there is still a problem and asking us to put another cosmetic band-aide on it. Enough is enough. We need a system that provides city employees with benefits that are no better, and no worse, than what the average San Diego taxpayer footing the bill receives.
The Mayor’s proposal will only PROLONG the current pension crisis by…
- Keeping the current pension benefits in place for all current employees
- Exempting half of all new hires from the defined contribution program
- Allowing pension “spiking” to continue by using bonus-type pays to calculate life-long pension benefits.
- Failing to require city employees to pay their fair share (50%) of the cost of pension benefits.
I’ve joined with a coalition of taxpayer and business to offer a real solution. Our ballot measure will SOLVE the pension crisis by…
- Reforming pensions for current employees AND new hires.
- Placing ALL new hires in the 401K system.
- Ending pension spiking by requiring that pensions be calculated using base salaries only, not bonus-type payouts.
- Requiring city employees to pay their fair share of the pension costs: 50%.