The public pension-reform legislation that the California Legislature and Gov. Jerry Brown adopted very carefully avoided any changes to current pensioners’ benefits and those of future recipients now on state and local payrolls.
Not only would that have been politically impossible, but it’s widely assumed that pensions are protected by the California Constitution’s ban on “impairing the obligation of contracts.” Read More
Can we all just hold hands for a minute and agree that there is a limit on what we can afford to pay public employees? On the generosity of tenure and work rules? On their retiree health care and pensions? Because I wonder if some public employee unions even understand the concept of finite resources. Read More
San Francisco’s pension bill will increase by tens of millions of dollars.
The San Francisco Retirement Board was scheduled on Wednesday to reconsider a controversial decision made last month to lower its projected rate of return on its pension fund investments from 7.75 percent to 7.50 percent. But the board ended up leaving the rate at 7.50. Read More
The City could be facing an additional $60 million annually in employee pension contributions, due to the unpredictability of the stock market. Read More
San Francisco’s 26,000 city employees have been granted generous salaries, benefits and pension plans by the taxpayers of this city who support their hard work.
More than one-third receive in excess of $100,000 when overtime and unused vacation are factored in. They also receive generous health care plans, pensions and other benefits totaling tens of thousands of dollars more per employee. Read More
No matter which of the dueling pension measures is approved this November, The City will continue to face a skyrocketing cost of city government fueled by increasing employee and retiree costs. Read More
A deal Mayor Ed Lee struck with police and fire unions was not embraced Wednesday by two members of the Board of Supervisors Budget and Finance Committee, who expressed concerns about the cost to The City and why these public safety unions should enjoy protections from Public Defender Jeff Adachi’s Proposition D pension measure while the other city labor unions would not. Read More
Public Defender Jeff Adachi will be allowed to use his name and image on election materials promoting his Proposition D pension measure after all. Within 24 hours, the Ethics Commission reversed its decision on the rules, after saying Adachi is prohibited from using his image and name on the pension measure materials because he was also running for mayor. Read More
A deal Mayor Ed Lee struck weeks before announcing his run for a full term would shield police and firefighters from Public Defender Jeff Adachi’s pension-reform measure, The San Francisco Examiner has learned.
A provision delaying implementation of the proposed Adachi measure is contained within a broader agreement Lee negotiated last month with police and fire unions to postpone scheduled pay raises to help balance a budget deficit. Read More
Public Defender Jeff Adachi turned out on the steps of City Hall on Wednesday to announce his “compromise” over dueling pension measures. Read More