This month, San Diego’s pension board unanimously approved the city’s annual pension payment. It’s a record-high $533.2 million, due July 1. The city’s entire pension debt, the burden of which sits on the taxpayers, has now reached $3.3 billion.
San Diego voters tried to rein in the city’s runaway public employee pension obligations when they approved a 2012 measure that would change the system. Union bosses and the courts had other ideas, though, and the results were scrapped by the California Supreme Court.
The ripples of that ruling have just hit the shore and they probably feel like a tidal wave to city officials and taxpayers.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
City still reeling from court blocking 2012 pension reform
Kerry Jackson
This month, San Diego’s pension board unanimously approved the city’s annual pension payment. It’s a record-high $533.2 million, due July 1. The city’s entire pension debt, the burden of which sits on the taxpayers, has now reached $3.3 billion.
San Diego voters tried to rein in the city’s runaway public employee pension obligations when they approved a 2012 measure that would change the system. Union bosses and the courts had other ideas, though, and the results were scrapped by the California Supreme Court.
The ripples of that ruling have just hit the shore and they probably feel like a tidal wave to city officials and taxpayers.
Read the entire op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.