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The San Diego City Employees' Retirement System had been underfunded in some form for more than a decade. [2] In 2001, as a result of years of sharp increases in pension benefits combined with decreases in pension funding [3] and a decrease in the value of investments, [4] the fund fell below certain funding targets.
The San Diego City Employees' Retirement System had been underfunded in some form for more than a decade. [3] In 2001, as a result of years of sharp increases in pension benefits combined with decreases in pension funding [4] and a decrease in the value of investments, [5] the fund fell below certain funding targets.
She had previously fought to end guaranteed pensions in San Diego. [35] In 2015, while district attorney of San Diego, Dumanis began receiving a pension of $29,318/year (she was a judge in 1995–2003) in addition to her salary, and she received both pension and salary from January 2015 to July 2017. [36]
According to Livingcost’s data, a single person will typically spend around $3,400 a month to live in San Diego versus roughly $2,600 in Austin — an annual difference of roughly $9,600.
In 2008, San Diego's mayor vetoed a 24% pay raise for the city council that Peters and four other council members had voted for. [26] [27] Peters was a member of the San Diego City Council during the San Diego pension scandal. [28] In 2002, he voted with the majority to underfund the employee pension system.
A 2008 Wall Street Journal article praised Aguirre’s efforts to address the City of San Diego's hundreds of millions of dollars of unfunded pension liabilities. [4] In October 2007, The San Diego Union-Tribune reported that during the California wildfires of October 2007, Aguirre had called for an evacuation of the entire City of San Diego. [5]
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