From the Reporter
What Happened
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.
What Else
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.

Dagny Salas

Dagny Salas was web editor at Voice of San Diego from 2010 to 2013. She was an investigative fellow at VOSD from 2009 to 2010.

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