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The San Diego City Employees' Retirement System (SDCERS) today (Dec. 21) admitted to multiple violations in a settlement with the Internal Revenue System (IRS). However, the federal tax agency did not rule on the controversial DROP and Purchase of Service Credit issues, because SDCERS has not asked for rulings. City Attorney Mike Aguirre says that the city council will have to make the requests if SDCERS continues to refuse. The IRS put an end to conflict of interest illegalities that Aguirre had earlier tried to push in his lawsuit to limit pension benefits, but Judge Jeffrey Barton had not let him put on the case. Under today's agreement, former Municipal Employees Association President Judi Italiano and Firefighter Union President Ron Saathoff won't be able to receive City retirement benefits from their years heading the unions. This is also under investigation of the U.S. Attorney's office and the DA. In addition, the IRS found $33.8 million in excessive healthcare benefits, as well as disability overpayments. And the IRS found payments in excess of its 415(b) limits. Councilmember Donna Frye has pushed SDCERS to resolve this issue.
The San Diego City Employees' Retirement System (SDCERS) today (Dec. 21) admitted to multiple violations in a settlement with the Internal Revenue System (IRS). However, the federal tax agency did not rule on the controversial DROP and Purchase of Service Credit issues, because SDCERS has not asked for rulings. City Attorney Mike Aguirre says that the city council will have to make the requests if SDCERS continues to refuse. The IRS put an end to conflict of interest illegalities that Aguirre had earlier tried to push in his lawsuit to limit pension benefits, but Judge Jeffrey Barton had not let him put on the case. Under today's agreement, former Municipal Employees Association President Judi Italiano and Firefighter Union President Ron Saathoff won't be able to receive City retirement benefits from their years heading the unions. This is also under investigation of the U.S. Attorney's office and the DA. In addition, the IRS found $33.8 million in excessive healthcare benefits, as well as disability overpayments. And the IRS found payments in excess of its 415(b) limits. Councilmember Donna Frye has pushed SDCERS to resolve this issue.