Report: $61M in pension payouts to 10 former city employees - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Report: $61M in pension payouts to 10 former city employees

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SAN DIEGO (CNS) - A report on pension payouts to former municipal employees that claims 10 former workers will split $61.5 million in their retirement is to be released Monday by a San Diego city councilman.

Carl DeMaio, who has been pushing pension reforms and is a strong opponent of a ballot proposition to raise the city's sales tax, will release the report compiled by Marcia Fritz, the president of California Foundation for Pension Reform.

"San Diego is just like Bell -- only bigger," said Fritz, who is also a certified public accountant.

Bell is the small Los Angeles suburb where it was revealed that city employees had exorbitant salaries and benefits. The mayor, several city council members, city manager and other officials in Bell are facing corruption charges.

The names of the 10 San Diego employees were not revealed ahead of the report's release.

The city of San Diego's finances have been hampered for most of the decade, since a $1 billion-plus deficit was discovered in the retirement system for city employees.

"The data being released is absolutely outrageous," DeMaio said.

 

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