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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.
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]
According to the pension calculator, if I retire at 67 years old after 42 years of dedicating myself to public service, my pension will be $42,000 per year," wrote Christine Nardi. "I shutter [sic ...
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It turns out San Diego is a high-price place to live, on par with other major cities such as Boston, Washington D.C. and even the notoriously expensive San Francisco, according to figures compiled ...
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.
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