San Diego Mayor Proposes Eliminating Pensions for New Officers
November 23, 2010
San Diego Mayor Jerry Sanders has proposed eliminating pensions for new-officer hires, and instead giving them a 401(k) account, reports the San Diego Union-Tribune.
Currently, a new officer receives 2.5 percent of his/her salary for each year worked once they reach age 50 and have at least 20 years of service. Officers also now receive 3 percent at age 55 after 10 years of work. The pension benefit is calculated based on the highest annual salary now, but becomes based on the average of the top three salaried years beginning July 1, 2012.
The plan comes after the failure of Proposition D, a Nov. 2 measure supported by Sanders that called for a sales tax increase to help balance the city's $73 million budget deficit.
Read the full story at SignOnSanDiego.com.
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ROB ROY @ 11/24/2010 4:17 AM
Why do these liberal politicians think that everytime they have a budget problem they think it's a good idea to take away money, benefit's, or lay off one or more of the 3 sevice's that the general public need. Police, Firemen, or Teacher's. To me they do it so they can get the public to agree to tax increase's, so yhey can waste more of our money. You would think that the election's would have made them wake up to the fact that we are not going to put up with it anymore.
scwoz @ 12/8/2010 6:17 AM
Cut the biggest drain on our money, Welfare and Medicaid. It is the biggest waste and just a cesspool of fraud.
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