The Morning Report
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Okay, I’ve got three minutes between meetings.
Reader Erik wrote:
Kudos for trying to get the county’s retiree health care liabilities under control. I am a skeptic of the pension obligation bonds the county veted (which seem to be to be a risky proposition if we get a prolonged market slump in which returns average less than 8% after inflation – as occured during much of the 1970s) but the effort on healthcare to me was fair and prudent. While the compromise seems like only getting us half way (or more precisely to 90% funded), it is a positive step to protect the long term interets of taxpayers. It is what distinguishes the BOS from many others – a willingness to do real policy work and put forth innovative solutions to concrete government problems.
I’m glad you’re keeping close watch on the County’s pension fund. And thanks for the kind words. The POBs are separate from the pension. Their liability lies with us over here at the County and not subject to market forces. They don’t jeopardize the retiree pension fund managed by County retirement board. For us, it’s like paying off down a mortgage. And we have been dutifully paying down that mortgage.
Reader Meeting Times wrote:
Why is it you hold your meetings for the public, when the public can’t attend, during their working hours? – Only retired or lobbyists can make those meetings. Why is it you hold your meetings in one location where parking is hard and for the folks that live in your district or Greg Cox, Pam Slater and Bill Horn have to drive a long distance and pay alot in gas? – Only the lobbyist work near you in the business downtown of the City of San Diego.
Interesting point. Certainly gives me something to think about. Can’t speak for my colleages but I schedule quite a few constituent meetings in the evenings. If it’s Monday night, I’d have to DVR Fox’s “24.”
— DIANNE JACOB