Headline: San Diego [City] officials divided over accelerating pension debt payoff
Publication: San Diego Union Tribune
Article Date: Sep 17, 2018
Proposals to accelerate paying off San Diego [City’s] pension debt of $2.76 billion are sharply dividing the city’s pension board, which decided on Friday [September 14] to delay any decisions until late October or early November. Supporters say the city’s relatively strong financial position makes it possible and prudent to accelerate debt reduction by increasing the city’s annual pension payment in coming years, which would likely require budget cuts. Opponents of the idea say San Diego’s pension system already takes among the most conservative overall approaches to pension debt in the state and that policies in place are projected to reduce the debt below $1 billion by 2038. Read article…