The board of the San Diego City Employees’ Retirement System voted 10-2 Friday morning to maintain a pension accounting rule known as the “corridor.” The decision strengthens the pension fund, but weakens the city of San Diego’s budget by $30 million for next fiscal year. The two trustees who voted “no” were Gregory Bych and Steven Meyer.

Read about the background of the decision here.

More to come later.

— LIAM DILLON

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