Wednesday, January 12, 2011

For Once, Good News on Pension Front -

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By Union-Tribune Editorial Board

City Attorney Jan Goldsmith’s opinion this week holding that a highly promising pension reform is legal is great news for San Diego’s besieged taxpayers.

Goldsmith concluded that the city is not required to count pay sweeteners providing extra compensation when calculating pension formulas. If coupled with a freeze on base salaries, this means city employee pensions could be effectively capped. Councilman Carl DeMaio deserves credit for coming up with this proposal, which he estimates could save nearly $300 million over the next five years if it is fully implemented
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