Proposition B, a measure that would reform San Diego city employees' pension plans, is winning the approval of city voters as it has garnered support from 67.6 percent of voters with 50.2 percent of the precincts reporting.
The plan’s biggest supporter, San Diego City Councilman and mayoral candidate Carl DeMaio, has called the city’s current pension system unsustainable.
Critics of the plan have argued it won’t fix the city’s ballooning pension issues.
The proposition’s engineers — DeMaio, City Councilman Kevin Faulconer and Mayor Jerry Sanders, as well as others — insist it could save the city $950 million over a 30-year time span, possible because of its freeze until summer 2018 on that portion of a city worker’s pay used to calculate pension benefits.
The city’s independent budget analyst has projected that the savings are possible, but also noted the $13 million in additional costs over the 30-year period estimated from the proposed switch for many city employees into 401(k)-style pension plans, resulting from city contribution costs and new death and disability program costs.
That $13 million looms large for opponents of the plan, as the budget analyst’s confirmation of the nearly $1 billion savings hinges on future city councils maintaining the freeze, which can be overridden at their behest.
Evan McLaughlin, political director of the San Diego-Imperial Counties Labor Council, has called Proposition B a breach of collective bargaining, and said it will hurt lower-salary city workers.
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Aug. 26, 2015 -- Executive Editor George Chamberlin speaks with Jerry Sanders, president and CEO of the San Diego Regional Chamber, about the Chargers stadium woes, challenges small businesses face and the Chamber's position on the drought.
April 27, 2015 -- Executive Editor George Chamberlin speaks with Jerry Sanders, president and CEO of the San Diego Regional Chamber, about the chamber's recent trip to Mexico, the chamber's recent endorsements of candidates for local office, and the congressional lunch.
Feb. 11, 2015 -- George Chamberlin sits down with Jerry Sanders, president and CEO of the San Diego Regional Chamber, to discuss the chamber's accomplishments in 2014, goals for 2015 and the new Chargers stadium task force.
Sept. 11, 2014 -- George Chamberlin speaks with Jerry Sanders, president and CEO of the San Diego Regional Chamber of Commerce, about Sanders' trip to Washington, D.C., where the delegation he led talked to congressional leaders about the pure water program, border relations, and more.
Aug. 28, 2014 -- George Chamberlin discusses the details of the San Diego Regional Chamber's new strategic plan and updated brand with chamber President and CEO Jerry Sanders.