Compromise announced on San Diego pension reform would be major progress
While not perfect, the compromise hammered out and announced late yesterday on the websites of the Union-Tribune and the voiceofsandiego.org as well as on television goes a log way toward achieving the pension reform that has been promised by San Diego’s officials for quite some time but not delivered. Among other changes, it will increase the retirement age from 55 to 62, and base the amount that someone will earn in retirement on the employee’s three highest years of pay rather than the highest single year. The news report broadcast by the local Fox affiliate XETV (available here) provides a good summary of the details and includes brief comments from Lani Lutar, head of the San Diego Taxpayers Association.
Richard Rider, head of San Diego Tax Fighters, said this of the compromise, “It’s not nearly as good as I would want, but quite a change. A rather remarkable compromise.”