San Diego's muni. workers would be better off finding employment elsewere

[SoCalDem]

Aguirre: Promised city pensions can't be sustained
http://www.signonsandiego.com/news/metro/pension/20060309-1803-benefits.html

SAN DIEGO, 6:03 p.m. March 9 (SIGNONSANDIEGO)

City Attorney Michael Aguirre said Thursday that San Diego's municipal workers would be better off finding employment elsewhere because the pension benefits they were promised cannot be sustained.

Aguirre pointed to a series of documents from the retirement system that he said support his claim that the pension fund cannot support future retirees.

Pension officials said Wednesday there is enough money to pay benefits to all of its retirees for the next two decades.

A decade of underfunding has left the San Diego City Employees' Retirement System saddled with a deficit of at least $1.4 billion, a number likely to grow when revised figures are released next Friday.

snip

http://www.signonsandiego.com/news/metro/pension/20060307-1423-credits.html

[MadMaddie]

1. City infrastructure....going to the wayside....

let me guess they want to outsource those jobs....

[SoCalDem]

2. They MAY have to file bankruptcy..

people are starting to LEAVE SD because housing is so expensive and jobs so scarce.. (good paying ones, that is)

[MadMaddie]

3. I wonder how many other US cities are facing these issues...

the * cabal has neglected the infrastructure of the US and it's citizens...for corporate profit at whatever cost....