The Morning Report
Get the news and information you need to take on the day.
|From the Reporter|
|A ballot measure replacing pensions with 401(k)s for most new city of San Diego employees will be a key issue on next June’s ballot. But more details are emerging that indicate 401(k)s might cost the city more in the short-term.|
|The city might have to pay $94 million more over the next six years if it creates a new 401(k) plan, according to recently released retirement system data. Other items in the ballot measure could reduce those costs.|
|Despite promises, the ballot measure’s backers haven’t released a detailed financial analysis of the plan and have no timeline for doing so.|