skip to main content

Listen

Read

Watch

Schedules

Programs

Events

Give

Account

Donation Heart Ribbon

Mayor Sanders Pension Reform Plan Stalled by Divided Council

Audio

Aired 4/19/09

Tom Fudge: The San Diego City Council was divided over whether to support an effort by Mayor Jerry Sanders to reform city pensions. But yesterday's deadlocked council vote of 4-4 did accomplish one thing: it prevented the mayor's plan from going forward.

Jerry Sanders' idea of reform is to gradually change the nature of city pensions from a defined benefit plan to a defined contribution plan. The latter model is what you see in the common 401K pension. In it, the employer agrees to contribute a certain amount of money every year. But there's no guarantee the worker will enjoy a certain income once they retire.

Mayor Sanders' purpose in pushing for change is to reduce the city's infamous pension fund deficit, which still totals close to a billion dollars. Now that the council has thwarted his proposal, Sanders says he'll take it to voters for a referendum. He says his negotiations with the three unions involved in the current discussion, are over.

Guest

To view PDF documents, Download Acrobat Reader.

Please stay on topic and be as concise as possible. Leaving a comment means you agree to our Community Discussion Rules. We like civilized discourse. We don't like spam, lying, profanity, harassment or personal attacks.

comments powered by Disqus