The Morning Report
Get the news and information you need to take on the day.
|From the Reporter|
|Mayoral candidate Bob Filner released his long-awaited pension plan, relying on a borrowing proposal to save a projected $753 million over the next 15 years.|
|What Are The Risks?|
|Borrowing money won’t erase the city’s pension debt it just will shift it from one side of the books to the other. If the city doesn’t make more from its investments than it pays in interest, taxpayers lose.|
|Lots of things. Filner wants to end six-figure pensions for new hires, negotiate a five-year labor contract, eliminate a city subsidy for employee pensions, put half of any budget surpluses into the pension fund and keep guaranteed pensions for new workers.|