Facing even tougher odds is San Diego, which is still struggling with a decade-long pension scandal involving the city's move to divert its share of pension contributions to finance a stadium for its Major League Baseball franchise. The combination of overly generous benefits -- some 487 city employees collect annuities of more than $100,000 a year -- and investments losses have nearly doubled the pension deficit to $2.7 billion. The city paid $229 million in annuity costs this past fiscal year, marking a 48 percent increase over 2009-2010. Those costs accounted for 8.3 percent of the city's budget versus 5.2 in the 2004-2005 fiscal year. San Diego officials are now pushing for a ballot initiative next year to close the pensions to new employees -- and finding themselves in a fierce battle with the city's public sector unions.American Spectator
Voters there might want to figure things out for themselves rather then rely on politicians to translate.
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