Feed Editor 11 Apr 2010 01:38:10 GMT Blog of San Diego - City Pension Blog of San Diego - City Pension http://www.blogofsandiego.com/RSS/Pension.xml en http://www.blogofsandiego.com/RSS/BlogOfSanDiegoLogo.png Blog of San Diego - Logo Blog of San Diego - Logo 09/18/09 The full bill for San Diego's Municipal Millionaires is finally being presented. The SDCERS Pension Board made a "tough decision" today. Here is the actuary's full presentation showing all of the Board's grim options. 11 Apr 2010 01:44:01 GMT http://www.blogofsandiego.com/Pension.htm#09/18/09 61A05271-47EE-4FC1-8627-D144E453E581 07/24/09 Does Jerry Sanders have a better solution to the pension crisis than Mike Aguirre? Because of the growing re-focus on the City's pension system, whether it is sustainable or whether it will drive the City into bankruptcy, I decided to do a careful study of what the system's actuary had to say to the pension board last Friday, July 17, 2009. I downloaded the 3 hour 42 min. video, studied it, then edited it down to three short segments for YouTube and overlaid it with this actuary's PowerPoint Presentation. 11 Apr 2010 01:43:02 GMT http://www.blogofsandiego.com/Pension.htm#07/24/09 C27EF353-47FD-45B3-86FF-A20E7DC0BF60 04/11/09 The Mayor gives his senior staff 3 months "heads up" to enter DROP. Writing about Sanders' lawsuit against the POA on March 2, 2009, I asked why Sanders "loudly proclaims that DROP is not a vested benefit for police officers, while allowing his own staff and those directly under his mayoral control to retain it as a benefit." 11 Apr 2010 01:42:17 GMT http://www.blogofsandiego.com/Pension.htm#04/11/09 0E305D7B-2902-4E05-B98B-476A0577FEFB 04/07/09 The account nobody wants to talk about - the City's NPO account. Here is a copy of an account in the City's books that shows the accumulated unpaid Annual Required Contributions (ARC) from 1988 to 2007, known as the Net Pension Obligation (NPO) account. It shows a balance at June 30, 2007 of $195,556,000 owing to SDCERS by the City. The City pays 8% interest on this debt. 11 Apr 2010 01:41:27 GMT http://www.blogofsandiego.com/Pension.htm#04/07/09 8AB28E16-6CDA-43EC-A20C-7D8604B6B4AF 04/02/09 Eliminating DROP could save $16 million immediately. Mayor Sanders filed this lawsuit in the Superior Court today seeking a Writ of Mandate declaring that the City's Deferred Retirement Option Program (DROP) is a "term and condition of employment", not a "vested benefit" as claimed by the Police Officers Association (POA). 11 Apr 2010 01:39:53 GMT http://www.blogofsandiego.com/Pension.htm#04/02/09 EB21400C-5FE0-4FE5-9BA9-3539FF6E043F