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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.
At one point they bought an ad in the San Diego Union-Tribune that scoffed, "Chicken Little Would Be Proud." [10] In a continued effort to remove her from the retirement board, the Mayor and a City Council majority voted to ban investment advisors from the board; [11] Shipione was the only investment advisor on the retirement board. [12]
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.
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 ...
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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.
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