San Francisco, city and county in the red

Chronicle: Numbers crunchers say the pension payout for retired government workers could grow to $380 million a year from the city’s general fund by 2019. That’s $113 million more than was projected just last year. … Of the $99 million deficit that the city will have to eliminate by the start of the fiscal year July 1, $42 million is attributable to more going out in pensions than the city is taking in from the fund’s investments. …

 Retirees are living longer than expected — and investments are coming in with only a 4 percent return versus the 7.5 percent that actuaries had predicted.

 Plus, the city lost a lawsuit filed by retirees, invalidating the portion of Prop. C that did away with an automatic 1.5 percent increase in years when the system wasn’t fully funded.

A Silicon Valley stumble and public sector jobs go away in San Fancisco.