We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

San diego pension crisis - Research Paper Example

Comments (0) Cite this document
Summary
Course Date San Diego Pension Crisis The San Diego pension crisis has been a ghost that has haunted the administrators in San Diego over the last decade. It is said to have began a more than a decade ago when San Diego was to host the 1996 National Convention for the Republicans…
Download full paper
GRAB THE BEST PAPER
San diego pension crisis
Read TextPreview

Extract of sample
San diego pension crisis

Download file to see previous pages... This was a bad precedent that would set a devastating trend way into the future. Successive local governments would use the pension funds for other purposes when the economy started to slow down. To give an example, in 2002 when the city government was unable to give pay raises to employees, the city offered increases in pension of 25 percent. This was done despite the fact that the city’s cash contributions into the pension fund had lowered. It was under this corrupt scheme that the City Council promised to increase the pension benefits provided a plan that allowed the city reduce funding to the pension kitty was approved by the retirement board which is controlled by the labor union and city employees. Despite warnings issued by Diann Shipione, who was a trustee of the pension board, the underfunding was approved. Diann warned that the plan would in the long run bankrupt the city. A private attorney who represented the board also indicated that the plan was most likely illegal. Mayor Dick Murphy, who was running for re-election in 2004, denied allegations that the city had serious financial problems at a time when deficit in the pension fund was close to hitting one billion dollars. Murphy was forced to resign later due to the pension scandal. In January 2006, seven people were indicted for conspiracy to commit fraud. These included the former pension systems director and the staff attorney. It is believed that this system of dipping into the pension funds was also emulated by other cities but its effects in San Diego were extreme. Recent efforts by Mayor Jerry Sanders to develop measures to salvage the pension situation have been met with resistance from different circles. The ballot measure which was proposed by the mayor and councilman Kevin Faulconer was put under a lot of scrutiny. The proposal would have overhauled the retirement benefits for the city workers. It was met by heavy criticism from both sides of the political divide. Councilman Carl DeMaio who developed another separate proposal on how to deal with the pension issue was one of the most vocal critics of the mayor’s proposal. He is at one time quoted to have referred to the mayor’s proposal as a toothless tiger (Gustafson, “Critics Say”). He reiterated that the proposal did not comprehensively deal with the pension problems that the city faced. The proposal if approved would have introduced strict measures of conducting new hires for public safety jobs. It would also have eliminated guaranteed pensions for new hires and replaced this with 401(k) s (Gustafson, “Critics Say”). The suggestion that guaranteed pensions for firefighters, police officers and lifeguards was not supported by politicians. Other leaders of unions especially those whose members were to be affected also vowed to rally their members to oppose the proposal. Frank De Clercq who heads the firefighters union in San Diego projected that if implemented ideals of the proposal will lead to challenges during recruitment into the affected jobs (Gustafson, “Critics Say”).This is because people will be reluctant to risk their lives in jobs that do not guarantee their well being after retirement. He further added that firefighters risked their lives on a daily basis in order to save the lives of others (Gustafson, “San Diego Pension”). Jay Goldstone, who is the chief operating officer of the city, was of the opinion that a lot of savings were to be made ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“San diego pension crisis Research Paper Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1436625-san-diego-pension-crisis
(San Diego Pension Crisis Research Paper Example | Topics and Well Written Essays - 1250 Words)
https://studentshare.org/macro-microeconomics/1436625-san-diego-pension-crisis.
“San Diego Pension Crisis Research Paper Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/macro-microeconomics/1436625-san-diego-pension-crisis.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
On Earthquake Readiness: San Diego, California
The author claims that the frequency of earthquake occurrences in the different counties in South California serve as reminder of the existing and active faultiness that could easily pose tragedies to those who are not ready. These movements of faultiness are almost always felt in the San Diego county.
6 Pages(1500 words)Research Paper
San Francisco Peaks
It was because the geologists could not understand the entire formation and how these odd-shaped peaks could emerge from plate tectonics. Many volcanic theories were reviewed but none of those existing models could help or prove this type of mysterious formation by volcanic erosion.
4 Pages(1000 words)Research Paper
San People

According to the research findings, the San were an admirable people because of their simple attitude towards life and their ability to adapt to different environments. Presently, the few San people live in impoverishment as they work in farms and rear cattle in squalid settlements where alcohol is also abused.

3 Pages(750 words)Research Paper
Research Paper on San Diego County CAFR
The city, with roughly 10,050 employees in 2011, offers variety of governmental services including sanitation and health services, recreational activities and cultural events, police and fire protection, the construction and safeguarding of infrastructure and streets, and the maintenance and function of the water and sewer utilities.
10 Pages(2500 words)Research Paper
San Diego Geologic History and Natural Hazards Summary
There is a reflection of basic geologic difference between the 3 regions of this geomorphic division with the plutonic rocks metasedimentary and Mesozoic metavolcanic predominating in the Peninsular Ranges, and Cenozoic sedimentary rocks primarily predominating to the east and west of the central mountain range.
4 Pages(1000 words)Research Paper
Museum of Contemporary Art San Diego
This essay gives information about the Museum of Contemporary Art San Diego. The MCASD boasts for more than 4000 artworks after the 1950s that encourages works from all kinds of artists: from unknown, emerging, and even famous artists in international art communities. The artworks were varied with genres ranging from drawings.
2 Pages(500 words)Research Paper
San Diego International Airport Green Project
This case study analyses the planning, design, environmental and economic impacts of the Green Project of San Diego International
8 Pages(2000 words)Research Paper
San Francisco
Indeed, San Francisco has emerged as a hub for tourists from around the world today, hosting many annual events and programs throughout the year. Its national heritage in the historical context as well as
7 Pages(1750 words)Research Paper
Gentrifying San Francisco
Their aim is to spur economic development, while attracting businesses and lowering crime rates. Gentrification also leads to an increase in
3 Pages(750 words)Research Paper
San Andreas

The conclusion from this study states that probably “San Andreas” serves a bitter pill for the American nation that is afraid of two things most of all: breaking up of a good family and destruction of the East Coast. By showing people how to deal with these things on the screen Peyton educates the nation in some way creating a really good film in this genre.

5 Pages(1250 words)Research Paper
Let us find you another Research Paper on topic San diego pension crisis for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us