Below you will find every article Transcript staff have written on the topic, beginning with the first in Feb. 2002.
The California Supreme Court Monday dismissed charges against five of the six former San Diego pension board officials accused of violating the state’s conflict of interest laws.
Deputy City Manager Bruce Herring tendered his resignation Thursday, citing a City Council decision not to provide a legal defense in a recent lawsuit.
A recently appointed trustee to the San Diego City Employees Retirement System resigned Tuesday, adding even more uncertainty to the city's efforts to regain its financial footing on Wall Street.
The San Diego City Attorney's office filed a second lawsuit in as many days, in hopes of preserving the ability to seek a court-appointed receiver to the retirement board and offer a handful of solutions to the city's pension crisis.
The San Diego City Attorney filed a lawsuit against former and current members of the board of administrators, general counsel, and the head of the city's retirement system in hopes of rolling back a series of benefits resulting in a deficit estimated at more than $1.37 billion.
Waking up the other day I suddenly had a feeling that I had a $1,000 overdue bill. Most of the time these thoughts are mere dreams and false alarms, but this time the dream was real and it was a nightmare.
In the heat of the mayoral campaign, bankruptcy for the city is gaining more attention. The candidate debates offer a chance for prime advocate, Pat Shea, to endorse its merits as the keystone of his bid for mayor.
Federal investigations into potential fraudulent disclosure practices at the city of San Diego have expanded from the pension plan to other areas under the control of the municipality, according to a subpoena recently sent to the city by the Securities and Exchange Commission.
Two commonly touted solutions to reduce the city's pension deficit used by mayoral candidates are to challenge the legality of some retirement benefits or reopen negotiations with city labor unions.
The City Council on Monday approved a series of labor contracts with municipal labors unions, thereby reasserting a commitment to solving the pension crisis and keeping retirement benefits granted over the last 10 years.
Mayoral candidate Jerry Sanders on Thursday laid out a plan to address a seldom-discussed looming debt facing the city: retiree health care.
A week marked by heightened differences between city officials and the San Diego City Employees' Retirement Board over the proper way to handle the pension crisis may have pushed the issue to a head.
Six current and former trustees of the board that oversees San Diego's beleaguered pension fund pleaded not guilty Monday to felony conflict of interest charges.
If you have been paying attention to the news, you know the city of San Diego is facing some interesting problems to say the least. However, when it comes to the city's $1.4 billion municipal pension plan deficit, San Diego is not alone.
City Attorney Michael Aguirre wants a mediator to formulate a plan that will clearly authorize the city attorney's office to act as legal counsel to the San Diego City Employees' Retirement System (SDCERS).
The actuary of San Diego's retirement system fired back Thursday to charges of questionable judgment and the suggestion the firm should be replaced.
Over the past several years, San Diegans have watched the financial condition of the city's employee pension fund deteriorate. The city's credit rating has been downgraded by Wall Street rating agencies, local and federal investigations have been launched, and the national media has made San Diego the poster child for widespread problems with public employee pension funds.
Mayoral candidates running in the July 26 primary election sought to brand their campaigns Wednesday by providing plans to dig out of the city's estimated $1.37 billion pension deficit.
Mayor Dick Murphy found a committed pocket of support at San Diego City Council's Tuesday emergency meeting where a new salary ordinance squeaked by.
Credit agency Fitch Ratings lowered the outlook on the city of San Diego's debt on Friday. The move prompted City Attorney Mike Aguirre to call for roll-back of "illegal" pension benefits.
A legal opinion released to the public Wednesday states that two agreements between the City Council and the city's retirement system board of administrators "arguably" violated state conflict of interest codes and two sets of city laws.
Police Officer Sandi Lehan bought her first home in December but worries that she'll soon be unable to afford it. She says a new union contract proposed amid a growing city pension fund scandal could cut her pay as much as $500 a month.
The disagreement between City Attorney Michael Aguirre and the City Council over a labor package approved Tuesday illustrates a growing divide on how the city's massive pension deficit should be fixed -- a divide that is threatening to halt progress in its tracks.
A judge on Wednesday postponed the arraignment for six current and former trustees of the board that oversees San Diego's pension fund.
Six current and former trustees of San Diego's embattled pension fund were charged by District Attorney Bonnie Dumanis with felony conflict-of-interest violations Tuesday for votes that boosted their retirement packages.
The six defendants that were charged with violating state law represent a cross section of the city of San Diego's workers.
At the end of the city's negotiations with labor unions for new contracts, the San Diego City Council will be asked to approve the labor deals based on financial information that has not been audited and they have never seen.
The city of San Diego has reached a tentative agreement with the Municipal Employees Association that could help the city emerge from its pension crisis but may not go far enough.
City Manager Lamont Ewell and Councilwoman Toni Atkins have decided to join Donna Frye in reconciling a controversial benefit they purchased that is blamed for driving up the city's $1.37 billion pension shortfall.
With the field of candidates starting to take shape for the upcoming July 26 mayoral primary election, two candidates have taken bold stances on attacking the city's $1.37 billion pension shortfall -- a rollback of retiree benefits.
City Attorney Michael Aguirre sent a memo Thursday to Mayor Dick Murphy and City Council members requesting that a series of items to address the city's $1.37 billion pension deficit be docketed for the next meeting.
Payroll statistics calculated by the city have not coincided with the payroll figured by the city's retirement system for at least two years, which may be allowing the system to slide further into debt, according to two former members of the city's Pension Reform Committee.
A pragmatic budget outlook presented by City Manager Lamont Ewell to the San Diego City Council on Monday night bodes difficult decisions for city officials, including about 355 job cuts.
City Attorney Michael Aguirre distributed two memos to Mayor Dick Murphy and City Council that threaten to seriously undercut the value of their pensions by thousands of dollars annually.
The resignation of Mayor Dick Murphy on Monday took many colleagues by surprise. There may, however, be consternation brewing on the City Council about how and when his successor will be chosen.
After a bruising election, Mayor Dick Murphy has taken another hit. The Apr. 25 issue of <i>Time</i> magazine has named Murphy as one of the worst mayors in the country.
The new board of administrators for the San Diego City Employees Retirement System in its first meeting approved requesting a series of compliance assurances from the U.S. Internal Revenue Services.
The city's new retirement board will be faced with a difficult question at its first meeting Friday that evaded the old board for years: Is the system meeting all requirements of the Internal Revenue Service?
At the end of a bitterly contentious week at City Hall, both Mayor Dick Murphy and City Attorney Michael Aguirre issued outlines of separate long-term solutions to the city's $1.37 billion pension shortfall.
By now, anyone who reads the paper knows the city has a $50 million budget shortfall and a growing pension deficit pegged at $1.37 billion.
San Diego City Attorney Michael Aguirre announced Wednesday evening that he is calling for a unified audit of the 2003 and 2004 financial statements of both the city and the city’s pension plan.
A City Hall e-mail surfaced Thursday showing a top-level human resource official coaching a mayoral staff member on how to maximize a contentious benefit that many say is driving up the massive pension shortfall.
San Diego County District Attorney Bonnie Dumanis has ordered an investigation into possible criminal violations of the California conflict-of-interest law by members of the board of trustees of the city pension system and city officials, according to media reports.
A team of attorneys suggested that the city's retirement system seek advice from the U.S. Internal Revenue Service to clear up questions over the agency's tax exempt status.
It's time for the city to halt underfunding tactics and give the city a true and accurate budget, said local business leaders.
It's that time of year -- spring is coming. Time for ice on northern and mountain lakes to begin melting.
Mayor Dick Murphy's promise of a "fresh start" in the leadership at the city's retirement system is doing little to change the minds of two city agencies seeking to separate their pension funds from the city.
Editor's note: This is the second in a two-part series.
The City Council approved the appointment of seven new member of the San Diego City Employees Retirement System on Monday despite public criticism over the exclusion of a key member.
Two lawsuits have temporarily been postponed which could allow for the speedier completion of the long awaited 2003 financial audit.
Members of the San Diego City Council have taken advantage of a controversial retirement benefit approved over the past 10 years that critics argue is driving up the pension systems' $1.37 billion shortfall.
The San Diego City Council approved a series of resolutions Tuesday in hopes of expediting the completion a long-awaited 2003 financial audit.
Mayor Dick Murphy postponed a Monday hearing to potentially approve seven new members of the San Diego City Employees Retirement System in order to take a more in-depth examination of the "vetting process."
As the pension crisis progresses, it looks like City Attorney Michael Aguirre is about the only person taking it seriously. However, with all the other weird city problems -- agendas, scams, prosecutions and election debacles -- Aguirre's efforts are more likely to be criticized than analyzed.
An attorney representing the city's largest union filed an objection Thursday to block attorney Michael Conger from settling a case filed against attorneys that represented the San Diego City Employees Retirement System in 2002.
The city of San Diego is shelling out more than $8 million in legal and bookkeeping bills in conjunction with investigations into financial disclosure practices and the completion of the 2003 financial audit -- and that number may continue to grow.
I recently called for a complete replacement of the city's archaic pension system with a plan that will prevent the reoccurrence of the serious problems that plague the existing setup. I have been frustrated with the grandstanding that has been done by some and the complete silence and lack of solutions from others. Pointing fingers will not help solve the problems facing the system. Neither will sitting and doing nothing.
Mayor Dick Murphy announced his intention to clean house at the city's pension board of administrators, and appointed a team of local financial management heavy hitters, most from large corporate companies.
Mayor Dick Murphy appointed seven new independent members to the board of administrators of the San Diego City Employees Retirement System on Friday.
Just days after Mayor Dick Murphy presented a plan to cut the city's $1.37 billion pension deficit by as much as $600 million, City Attorney Michael Aguirre released a more aggressive eight-step strategy.
The city's controversial DROP program for employees edging toward retirement carries a price tag to maintain, according to a report issued Friday by the city's pension actuary.
The city of San Diego's hiring of a reputable former executive at the U.S. Securities and Exchange Commission may be a last ditch effort to avoid a political melee caused by the pension fund boards refusal to waive certain legal privileges, according to actuarial experts.
In what could be viewed as the first chapter in negotiations with city labor unions, Mayor Dick Murphy on Wednesday laid out cost cutting proposals that could put costly pension benefits on the backs of new city employees.
In a move to separate itself from what has been called a "sinking ship," the Port of San Diego Board of Commissioners asked to have their funds removed from the city's pension account.
When City Councilman Brian Maienschein said he would lead a charge to move the pension to a defined contribution plan, some saw it as a bold political move while others saw a prelude to nasty labor negotiations.
San Diego City Attorney Michael Aguirre said Friday he is preparing a report providing an historical and current analysis of the city employee's pension fund.
In the wake of the blistering report issued by the city attorney Wednesday, officials called for patience while various investigations into the city's finances are completed.
City officials accused of securities fraud related to the pension fund scandal could use their reliance on the advice of counsel and accountants to mitigate their individual culpability in criminal or civil proceedings, according to securities law experts.
Mayor Dick Murphy and five City Council members allegedly violated federal disclosure laws by approving retiree benefit increases in 2002 and various bond offerings over the last three years, according to a report issued Wednesday by City Attorney Michael Aguirre.
Seeking to move the city back onto solid financial ground in the eyes of Wall Street, Mayor Dick Murphy on Monday asked the board for the city's pension system to waive key rights and hand over documents to investigators.
A series of new documents released through various sources further illustrate attempts to cover up the true state of the city's financial condition in early 2002, said City Attorney Michael Aguirre.
A lawsuit filed last week by the city pension plan against the San Diego city attorney and City Council is the centerpiece of a power struggle that took center stage in a Monday council meeting.
A startling revelation about the pension system was brought up in the City Council’s first open government meeting on Monday -- deceased retirees are receiving checks.
City Attorney Michael Aguirre is fulfilling campaign promises to bring change to City Hall -- but some wonder if the change is good.
January is awards month in the entertainment world. The Golden Globes and Screen Actors Guild recognize their winners, and then come the nominations for the Big Daddy of them all -- the Academy Awards.
To paraphrase Sen. Howard Baker's question about Richard Nixon during the famous Watergate Hearings: "What did the mayor know, and when did he know it?" The hearings that launched a million lawyers.
Attorneys for the city and the city employee's pension system board are squaring off in an increasingly vitriolic battle that seems headed for the courts.
The San Diego City Employees' Retirement System saw another drop in its funded status through fiscal year 2004 -- leaving it at 65.8 percent, according to a preliminary actuarial report.
A 1090 action lawsuit to roll back the 2002 San Diego pension benefits, which cost the city approximately $42 million-plus, was filed Friday, according to the San Diego County Taxpayers Association.
As City Attorney Mike Aguirre moves forward with his pension funding investigation, more questions arise around the role of pension administrators.
City Attorney Mike Aguirre on Wednesday continued blasting a member of the mayor's Blue Ribbon finance committee for not reacting to information about the mounting pension deficit warnings in 2002.
City Attorney Michael Aguirre dropped a bombshell on City Hall in the first report of his pension investigation Friday. Aguirre alleges that city officials failed to disclose critical financial information and reports.
On the same day that Mayor Dick Murphy and City Attorney Michael Aguirre promoted disbanding the city's controversial DROP program, City Manager Lamont Ewell issued a report touting its effectiveness.
City Attorney Michael Aguirre has issued a list of pension reform suggestions to city leaders -- including a retroactive rollback of "pension benefits created without corresponding payment sources" -- that will likely bring uproar from unions.
Heeding a call from critics to avoid a longer speech touting the status of his older "10 Goals" vision, San Diego Mayor Dick Murphy delivered a short, concise State of the City address calling for renewed leadership and action.
Funding the retirement of America's aging population is becoming a growing controversy in boardrooms, state houses and the nation's capitol. Quite simply, raising the money to fund these generous retirement programs is proving to be an enormous burden.
Since there is sudden interest in San Diego city finances by the FBI, the SEC and our own city attorney, maybe there will be answers to questions that have bothered me for a couple of years now -- and they have to do with Mayor Dick Murphy's Blue Ribbon Committee on City Finances.
Two teams of lawyers are trying to block City Attorney Mike Aguirre from defending the city against a potential lawsuit that could force the City Council to repeal increased retirement benefits approved in 2002.
The names of three ranking city officials that were subpoenaed to testify to the Securities Exchange Commission were released Thursday by San Diego City Attorney Mike Aguirre.
The city of San Diego has paid $410,021.72 since March in outside legal fees to attorneys representing the city and various city employees in an SEC investigation.
The San Diego City Council endured a contentious meeting Tuesday in which it granted the city's auditing firm a wider range of access to documents and interviews. In addition, the council agreed to pay for the legal fees of employees who are not convicted of any crimes.
John Kern, chief of staff for San Diego Mayor Dick Murphy, has enrolled in the notorious DROP pension program.
A threat by San Diego accountant April Boling to file a lawsuit against the city of San Diego to force the repeal of retirement benefits awarded in 2002 is beginning to attract supporters.
Officials geared up for what might become an interesting confrontation at a meeting of the board of administration of San Diego's city pension fund Friday afternoon after City Attorney Mike Aguirre attempted to seize control of the board's once-independent legal counsel.
San Diegans got a taste of what may come to characterize the next few years of debate at City Hall Monday when a new class of elected officials took the same pledge to serve but issued different takes on what needed to change and what needed to stay the same.
While officials took pride for weeks in the fact that they had aired the City Hall's dirty laundry, outside auditors say now they're not convinced all the clothes have come out.
An impasse between the city and independent auditors has raised questions about whether the city attorney's office has done enough to investigate evidence of fraud.
A highly anticipated analysis of the city of San Diego's finances has been delayed because city investigators have not "adequately followed up" on evidence that employees may have deliberately, and illegally, published deficient financial reports, according to independent auditors.
San Diego is blessed with boundless opportunity. Today, the city I grew up in and love is faced with the most devastating financial crisis in its history.
The problems with the city of San Diego's pension system are fixable, and the city is taking the steps necessary to fix them.
San Diego Mayor Dick Murphy -- troubled by months of negative revelations about the city's pension system -- spent part of Monday trying to direct attention to the county's pension system instead and, in the process, lost another major supporter of his bid for re-election.
San Diego City Manager P. Lamont Ewell told a City Council meeting Tuesday that he supported an effort to rid the pension system of what legal representatives have called a "parasitic" burden -- the continuing cost of health insurance for retirees.
Saying he hopes to send a message to worried financial markets, San Diego Mayor Dick Murphy will ask the city's employee unions to immediately begin negotiations to lower their pension benefits and freeze their salaries for two years.
On Sept. 21, laying next to the day's agenda on a table in City Council Chambers was a simple yellow flyer calling April Boling "a City Hall insider ... not a taxpayer advocate!"
County Supervisor and mayoral candidate Ron Roberts stood in front of bankruptcy court Monday and announced that he would challenge the city's labor unions to renegotiate some of their contracts to help the city stay out of the building behind him.
Just more than a month after declaring the city's credit rating stable, Moody's Investors Service abruptly lowered its opinion of San Diego bonds Friday.
City employees sitting on the pension board had power over their own benefit increases while they set up two now notorious funding arrangements with the City Council, according to the internal investigative report released last week.
Standard and Poor's on Monday abruptly suspended San Diego's high credit ratings and reminded investors that the city was on CreditWatch with negative implications.
While San Diego officials voluntarily hired a firm to investigate its increasingly questionable financial disclosure practices, the report those investigators eventually presented was a direct reaction to requirements of the Securities and Exchange Commission.
San Diego Mayor Dick Murphy sought to downplay the perception that the city's finances are in unique distress during a contentious debate with his campaign opponent on Friday.
A day after San Diego city's Pension Reform Committee laid out the sheer magnitude of the burden taxpayers will bear to bail out the retirement system, two former SEC investigators described in exhaustive detail how that problem remained largely hidden from the public and investors for so many years.
Sobering prognostications accompanied the release of the final report of the Pension Reform Committee, which was presented to reporters gathered in Mayor Dick Murphy's office Wednesday.
Continuing a show of willingness to reform the city's beleaguered pension system, San Diego Mayor Dick Murphy said Monday he hopes to persuade the city's employee unions to get rid of the now notorious DROP benefits their members enjoy.
After he filed a lawsuit against the city and its pension system in January 2003, Jim Gleason said it took about three months for a genuine concern about the city's financial state to give way to a more self-interested preoccupation.
Editor's note: This is the first of a two-part series on San Diego's financial crisis and talk of bankruptcy.
Leaders of San Diego's troubled pension system claim their lawyers led them to approve a funding plan that the mayor now calls a mistake.
The leader of the city's largest employee union harshly criticized a ballot measure that would revamp the administration of the city's troubled retirement system and pronounced herself "ashamed" of many of the actions of the Pension Reform Committee on which she serves.
One of Wall Street's big three credit rating agencies released a scathing analysis of San Diego city finances and lowered its rating of the municipality Wednesday.
A trustee on the board of administration of the city's retirement system -- known for her outspoken criticism of the fund's management -- said she was unimpressed with a recent City Council decision that may keep her from being thrown off the board.
The chair of the Pension Reform Committee says a last-minute bid to change the measure may have been an effort to kill it.
The San Diego City Council officially approved the proposed settlement of a lawsuit filed against the city's retirement system, ushering in a schedule of taxpayer payments to the fund much higher than officials had planned.
The City of San Diego -- like the county -- has struggled with underfunded liabilities to its beleaguered pension system. But even as city leaders move to fix the problems, they cannot guarantee the medicine will work.
Though unsure when the city might be able to work with Wall Street again, San Diego Mayor Dick Murphy laid out a plan to ask financiers to alleviate some of the shortfall in the beleaguered pension fund.
City workers appeared en masse Wednesday to oppose a recommendation by the Pension Reform Committee that voters have the opportunity to oust employee representatives from the pension fund's administrative board.
We are definitely living in strange times. Power companies steal billions of dollars from California citizens by causing shortages of electricity and few people are prosecuted. Oil companies raise gas prices by huge margins with no verifiable basis and no one seems to do anything about it. And here in San Diego, no one is being held accountable for the massive city pension deficit.
City pension officials are exploring the possibility of suing the lawyers who, in 2002, signed off on a proposal to continue underfunding the account and at the same time grant benefit increases.
If misery loves company, this time there's plenty to share. It's not news that the city of San Diego faces pension problems. Nor is there comfort knowing that the county pension fund is in worse shape; and the state teacher's fund, as well.
The San Diego City Council will hear the recommendations of its Pension Reform Committee June 20. The council's Rules, Finance and Intergovernmental Relations Committee will consider the retirement review group's proposed ballot measures on June 30.
After enduring months of scathing criticism about the city's beleaguered pension system from County Supervisor Ron Roberts, San Diego Mayor Dick Murphy launched a counterattack against his main rival to re-election, saying Roberts needs to "clean up his own house."
The board of administration of the city's beleaguered pension system Monday gave its final approval to the technical aspects of a settlement of a major lawsuit the fund is facing.
The Pension Reform Committee on Tuesday supplemented some of its already controversial recommendations with a fiscal road map for how the city can pull itself out from under more than $1.167 billion in unfunded liabilities.
Citing concerns about conflicts of interest that may have helped cause a crisis in the city's pension fund, the city's Pension Reform Committee voted Tuesday to ask that San Diego voters have the chance to oust union leaders, retirees and city employees from the retirement system's board of administration.
The San Diego City Employees' Retirement System needs to transfer $2.7 million to an internal account of the San Diego Unified Port District, according to a report issued by the pension fund's staff.
San Diego City Employees' Retirement System Board President Frederick W. Pierce IV condemned as "terribly misleading" recently released reports that the pension fund he helps oversee is drowning in liabilities largely due, not to the stock market but, to benefit increases, skewed assumptions and deliberate underfunding.
Retirees -- including San Diego city pensioners -- may be suffering because of a legal, but troubling, information gap in which conflicts of interest can arise.
Contingent benefits -- those that retirees can't necessarily rely on -- flowed freely in recent years and added potentially hundreds of millions to the $1.167 billion deficit the city's pension system faces, according to reports provided to the Pension Reform Commission Tuesday.
In a direct contradiction to many recent assurances from public officials, documents revealed to the city's Pension Reform Committee indicate that past and present actions by city leaders -- and not the stock market -- are responsible for most of the of the massive debt in San Diego's retirement system.
In front of the City Council on Monday, April Boling, chairwoman of San Diego's Pension Reform Committee, defended her group's recommendation that the city contribute about $72 million more to its pension fund this year than it was planning.
After promising months ago in his State of the City address that he would implement his Pension Reform Committee's recommendations when they came, San Diego Mayor Dick Murphy, along with some members of the City Council, appear likely to disregard the first one.
San Diego city leaders wondered aloud Wednesday where the Pension Reform Committee expected them to find an extra $80 million.
The only member of the pension board to dissent in its vote to settle a major lawsuit said Friday that the agreement would not prevent the long-term crisis the system is facing.
San Diego Mayor Dick Murphy promised not to lay off firefighters and policemen to do it, but starting this summer -- as the result of a tentative settlement announced Thursday -- the city will somehow have to inject tens of millions of dollars into its pension system.
Retirees enrolled in the San Diego city pension plan are more than likely to receive contingent benefits this year, the plan's board president said Wednesday.
Another bond ratings agency determined Friday that San Diego's underfunded pension system would prove to be enough of a burden on municipal finances that the city's credit is questionable.
Continued scrutiny of San Diego's financial status has forced city leaders to pull back from two major municipal bond issuances, and persuaded Mayor Dick Murphy and the City Council to hire an outside "specialist" who will review the city's fiscal disclosure practices.
Candidates to replace San Diego Mayor Dick Murphy have thrust the city's troubled pension system and the potential fiscal crisis it may provoke to the top of the list of issues they think cast doubt on his ability to lead.
Based on observations of the city's finances, Moody's Investors Services changed its outlook of San Diego's General Obligations Bonds and General Fund Obligations from Stable to Negative, which some critics say is the beginning of a major fiscal unraveling.
San Diego Mayor Dick Murphy's public assurances Monday night that the city's retirement funds were secure did little to assuage the concerns of many and the issue has moved rapidly to the forefront of the mayoral campaign.
The association representing retired city of San Diego employees has given retirement board trustee Diann Shipione its annual award for outstanding contribution.
The San Diego City Council unanimously approved the nine-member pension reform commission Monday.
When City Council members brainstormed this summer on the structure of the panel that's supposed to reform the city's troubled pension plan, Councilman Brian Maienschein spoke of a commission that wouldn't be made up of the usual suspects that typically populate city advisory groups.
The San Diego City Council is slated to make decisions Tuesday on the formation of a pension reform commission, an appointee to the Ethics Commission and overtime payments for police officers who worked Super Bowl events.
A City Council committee approved specific guidelines for a pension reform commission Wednesday. The full council is expected to address the issue when it returns from summer recess in September.
Concerned about the port's interests in the city of San Diego's pension plan, port commissioners have scheduled a special workshop for Tuesday to evaluate their decades-old participation in the $2.8 billion plan.
A City Council committee began fleshing out details Wednesday of a proposed pension reform commission that would examine the troubled city retirement system's swelling deficit and its very foundation.
The public relations firm hired to handle the San Diego City Employee's Retirement System's bad publicity sent out its first press release Tuesday. Its headline reads: City pension fund reports highest asset value in history.
Retirement benefit increases offered to city employees in the midst of pension funding troubles last year bolstered the pensions of six retirement fund trustees who voted to make the benefits a reality, according to the testimony of the retirement system's administrator.
The city's retirement system has hired the public relations firm Nuffer, Smith, Tucker Inc. to handle its media affairs.
The city of San Diego will short its employees' retirement fund by an estimated $446 million during the next seven years and leave the system underfunded by more than $2 billion by 2009 if it continues on its current payment schedule, according to a document obtained by the San Diego Daily Transcript.
"The Pension Program is substantially under-funded." -- Diann Shipione Shea, Trustee of the City Pension Fund.
City of San Diego officials have postponed a presentation scheduled for Wednesday that would've detailed a proposed solution to the dwindling city employees' retirement system.
A seemingly mundane rule change slated to go before the San Diego City Employees' Retirement System board Friday has at least one trustee concerned that retirees could be losing voting rights in the system.
The city of San Diego's contribution to its employees' retirement fund will fall short by an estimated $59 million in 2003, a dramatic rise in the degree of the city's history of inadequate contributions.
A retired city worker has filed his second lawsuit against the city employees' retirement system for alleged violations of the Brown Act.
Some call it "San Diego's dirty little secret," but firm details of the city employees' dwindling retirement plan were made abundantly clear to a City Council committee Wednesday.
Concerned that the city of San Diego has failed to properly contribute to its employees' retirement fund, two retired city workers have filed a class-action lawsuit against the city and 10 of the fund's 13 trustees.
A deal finalized in November to alleviate the city of San Diego of a possible $25 million to $75 million lump sum payment next year to its employees' retirement fund has raised concerns from a number of the fund's trustees, some of whom question the city's payment policies and labor negotiation tactics.
The first rule for getting yourself out of a hole is, "stop digging."
With the city of San Diego already facing a hefty budget shortfall this fiscal year and a potential crisis next year, the mayor's Blue Ribbon Committee on City Finances issued a mixed report Wednesday.
As San Diego struggles with its under-funded pension system, The Daily Transcript will continue to provide comprehensive and timely coverage of the issue. Find the latest articles on San Diego's continuing pension saga.