San Diego Pension Debate Continues
Voters approve moves that could save the city nearly $1 billion in the next 30 years, but labor groups question the mayor's role in the process.
San Diego voters last week overwhelmingly approved big changes to the city's pension system that could result in nearly $1 billion in savings over the next 30 years, according to the city's official estimates.
Those changes include a switch from defined benefit to defined contribution plans for most employees, and a five-year freeze on pay raises for the purposes of calculating pension benefits.
Although the vote is over, the legal challenges are not, and the savings are by no means a done deal.
San Diego Mayor Jerry Sanders and San Diego Municipal Employees Association General Manager Mike Zucchet discusses the issue with Governing.