SAN DIEGO'S PENSION PROBLEM

By Douglas M. Holbrook

The pension is the number one threat to our city, and must be the city council's number one priority to fix.

The pension is our city's number one threat, and therefore must be the city council's number one priority to fix.

First, it is essential that immediate demand be made for the completion of the report called for in recommendation # 17 of the San Diego Pension Reform Committee.

Second, Section 143 of the City Charter, needs to be adhered to, which states in part that:

"The City shall contribute annually an amount substantially equal to that required of the employees for normal retirement allowances, as certified by the actuary, but shall not be required to contribute in excess of that amount, except in the case of financial liabilities accruing under any new retirement plan or revised retirement plan because of past services of the employee:"

Third, the city needs to commit to funding the pension to a legal level by the year 2011. Spreading the payment out over five years will allow us to fund the City services we depend on.

Ultimately, restoring sanity to the pension plan requires that a fair balance be achieved between the retirement contributions made from the general fund and those required from the employees who stand to benefit.