San Diego’s outrageous pension payouts

The pension expert who revealed the outrageous payouts in the city of Bell has analyzed San Diego's pension payouts.

Marcia Fritz compiled a report from information gathered from San Diego's pension system.
Fritz's analysis projected what the top 10 pensioners would receive over their lifetimes, using their age and life expectancy.

According to Fritz the top 10 pensioners will receive $61 million over 25 years.

In San Diego, we have five city retirees who are between 30 and 40 years old and are collecting pension checks from $14,000 to $96,000.
The top 5 receivers are Michael Zucchet, the President of the city's largest union, followed by former city council members Brien Maienschein, Toni Atkins and Jim Madaffer. The 5th is former city attorney Casey Gwynn.

These payouts are a major reason why there is opposition for Prop D, the half-cent sales tax increase. But opponents fear that money will go to paying these high pension benefits.

Another outrageous pension perk is called “preservation of benefits.” These are retirees who collect more money than the IRS allows, and it's the city and the taxpayers who are making up the difference.
For example, one city employee's check was over $104,000.  His total pension check equaling $247,000.

Tuesday, the council will consider one of the ten reforms tied to the tax increase. This is to increase what elected officials pay toward their pensions. Currently they pay 8%, the reform would boost that to 23%, but the charter says they should pay 50%.

City Councilman Carl DeMaio said there needs to be “no more foot dragging from this Mayor and council, taxpayers deserve results, and the data that's being released today should shame them into action.”

Categories: KUSI