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Thursday, Mar 28, 2024
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Aguirre Calls for City Pension Reform

San Diego City Attorney Michael Aguirre, in a move to reform the city’s troubled pension system and reduce its $1.17 billion deficit, made several calls for budget reform and warned of impending bankruptcy if solutions aren’t found.

In comments released Jan. 10, Aguirre called on Mayor Dick Murphy and the City Council to roll back all retroactive benefits, and instead grant employees benefits based on the contributions they made at the time they were earned. Among his other proposals, Aguirre is proposing the end to the Deferred Retirement Option Plan, and the conditional issuing of pension obligation bonds.

If the City Council is “unwilling or unable” to reduce the deficit through the collective bargaining process, Aguirre said, “the specter of a Chapter 9 bankruptcy filing is very real.”

, Pat Broderick

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