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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.
The San Diego County Board of Supervisors is the legislative and executive branch of the county government of San Diego County, California.Though officially nonpartisan, two Democrats and two Republicans currently comprise the Board of Supervisors, with one vacancy after the latest election occurring in 2024.
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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]