SAN DIEGO (CNS) - The San Diego Regional Chamber of Commerce Tuesday endorsed a proposed ballot measure to rework the city of San Diego's employee retirement system to give most new employees 401(k) programs instead of traditional pensions.
Supporters of the Comprehensive Pension Reform Initiative, which has not yet received enough signatures to qualify for the ballot, say it would save the city a minimum of $1.2 billion through 2040.
Besides giving new employees other than police officers 401(k) plans, current city workers would see a five-year freeze on the pay that is used to calculate their pensions -- they could still receive raises or bonus pay, but that extra money could not be used later to calculate their pension payouts.
"This initiative makes good economic sense," said Ruben Barrales, the chamber's president and chief executive officer. "If the initiative qualifies for the ballot and is approved by the voters next year, it will provide significant reform for the city of San Diego, and save taxpayer dollars for important city services."
The initiative is backed by the San Diego County Taxpayers Association and is expected to receive strong support from the business community. According to campaign finance disclosures made last week, a lot of business organizations have donated to the signature-gathering drive.
The effort is opposed by the city's labor unions.
A man led police on a short car chase and barricaded himself in a Mission Bay motel before officers were able to arrest him Sunday.
Authorities were searching for a suspect on Sunday following an attempted sexual assault in Little Italy.
For years, there have been reports of Sears death spiraling toward the corporate graveyard alongside other popular brick-and-mortar retailers.
Strong and gusty Santa Ana winds, low humidity levels and high temperatures prompted the National Weather Service to issue a red flag fire warning Monday in San Diego County.
Temperatures Monday are warm, above average for the coast but below average at the desert. Santa Ana wind event will produce low humidity and gusty winds.
Bike riders, scooter users and pedestrians -- and bad drivers -- in Mission Beach and Pacific Beach will be targeted for safety enforcement by San Diego police Sunday.
Just a few days ago thunderstorms rolled through San Diego bringing measurable rain to the county for the first time in months. But things are about to change as strong Santa Anas are headed our way.
An overflowing sewage line in Del Mar prompted authorities to warn visitors to stay out of the water at a section of the city's shoreline Sunday.
Chase De Leo scored on the final shot of the shootout to give the San Diego Gulls a 6-5 victory over the Ontario Reign Saturday night in Ontario, their first win of the 2018-19 American Hockey League season.