San Diego City Attorney Michael Aguirre’s ongoing effort to roll back retirement benefits granted to city employees years ago was lauded in a Wall Street Journal editorial in the Sept. 6 edition.
The editorial said the political battle in San Diego (Aguirre is facing Judge Jan Goldsmith in the Nov. 4 election) is worth watching because so many other cities have taken similar steps, approving large pensions to buy union support.
“The San Diego attorney faces a tough re-election battle in November, but he’s setting off an alarm that voters across America need to hear,” said the editorial.
Aguirre’s lawsuit to rescind increases to the city employee pension plan in 1996 and 2002 was rejected at the Superior Court level, but the case has been appealed.
The Wall Street Journal editorial notes the city’s $1.2 billion unfunded pension plan liability, and the non-disclosure of the same in bond disclosure documents six years ago. Those omissions triggered a lengthy probe into the city’s operations, and the filing of civil charges by the Securities and Exchange Commission against former and current city officials.
— Mike Allen