Here's something you might be interested in.
Mayor Jerry Sanders today (Dec. 5) said that the City will disclose information on the more than $8 million of payments to 102 retired employees in violation of Internal Revenue Service rules. The disclosure will be made in an attachment to filings. "There is no doubt that [San Diego City Employees' Retirement System] illegally paid out benefits in excess of [IRS] limits" said the mayor, noting that the system was managed by people who are now gone. The issue has been pushed by Councilmember Donna Frye and City Attorney Mike Aguirre. Despite his admissions, Sanders accused them of political motivation. Said Frye, "They admit that in order to make sure it is properly disclosed, they will attach a memo. And they admit SDCERS was wrong." She uncovered and revealed the matter in the spring. "This administration has made it next to impossible to get information easily. I have spent since April trying to get the basic information. I have a legal obligation to make sure financial issues are disclosed in documents, and I take that responsibility seriously. The public has a right to know."
Mayor Jerry Sanders today (Dec. 5) said that the City will disclose information on the more than $8 million of payments to 102 retired employees in violation of Internal Revenue Service rules. The disclosure will be made in an attachment to filings. "There is no doubt that [San Diego City Employees' Retirement System] illegally paid out benefits in excess of [IRS] limits" said the mayor, noting that the system was managed by people who are now gone. The issue has been pushed by Councilmember Donna Frye and City Attorney Mike Aguirre. Despite his admissions, Sanders accused them of political motivation. Said Frye, "They admit that in order to make sure it is properly disclosed, they will attach a memo. And they admit SDCERS was wrong." She uncovered and revealed the matter in the spring. "This administration has made it next to impossible to get information easily. I have spent since April trying to get the basic information. I have a legal obligation to make sure financial issues are disclosed in documents, and I take that responsibility seriously. The public has a right to know."