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S.D. Already Feeling Impact Of Pension Payment

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The city of San Diego is already feeling the impact of the record breaking $225 million pension payment it will have to make next year. The city is implementing a hiring freeze to help cut costs.

— The city of San Diego is already feeling the impact of the record breaking $225 million pension payment it will have to make next year. The city is implementing a hiring freeze to help cut costs.

San Diego’s Chief Operating Officer is anticipating a budget deficit of more than $100 million for the city next year. Jay Goldstone says the pension payment added at least $30 million to the deficit. He says it wouldn’t be financially smart or fair to hire an employee and have to lay them off next year. The hiring freeze will include public safety departments.

“Police and Fire represent over half of the general fund budget. And if you don’t include Police and Fire, it will be very draconian cuts elsewhere in the organization,” he says.

Goldstone says the city will be at bare bones staffing levels next year. He says despite other cost saving efforts he believes there will be service cuts to help cover the deficit.

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