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Comments made by WmJSheffler

Taking Stock Of The County's Pension

Now since the city of San Diego cut back its benefits for cops, they're migrating to sdCERA. The average age of cops entering sdCERA has been increasing dramatically since 06. That's causing increases in the County's cost, and giving the POA cover when they claim that city cuts hurt retention. I think the city needs to let this run its course, and refresh its cop ranks with new blood who want to work here. The county can't hold on too much longer before it too is forced to 'adjust' and add another lower benefit tier for cops. Left out of the KPBS story was the fact that sdCERA pushed back when its actuary told them to reduce their assumed earnings rate. That and the fact that their POBs are effectively 'window dressing', making their funded ratio look much better than it actually is.

February 17, 2011 at 5:13 p.m. ( | suggest removal )