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The board of the San Diego City Employees' Retirement System (SDCERS) yesterday voted to have taxpayers pick up the $146 million tab for purchase of service credits that City workers purchased cheaply prior to 2003. City Attorney Mike Aguirre says he will file suit against the board's decision "to punish taxpayers" for the workers' windfall. For a period of six years, the retirement system permitted workers to fatten their retirement checks by buying a year of employment that they had not served. The price was miscalculated by $146 million. So in 2003, the price went up, but the employees were given several months to buy in at the former lower price. They rushed in -- for $146 million worth. That's what SDCERS says the taxpayers must pay for. The vote was 8-0. "It is disappointing to see Mayor Sanders's appointees vote this way," says Aguirre. Ann Smith, lawyer for the Municipal Employees Association, gloated about "yet another victory" for MEA members. Sanders won the mayoralty promising to reform such labor abuses. For political reasons, he has done nothing. Councilmember Donna Frye asked the 6000 workers to voluntarily make up the difference, but they refused.
The board of the San Diego City Employees' Retirement System (SDCERS) yesterday voted to have taxpayers pick up the $146 million tab for purchase of service credits that City workers purchased cheaply prior to 2003. City Attorney Mike Aguirre says he will file suit against the board's decision "to punish taxpayers" for the workers' windfall. For a period of six years, the retirement system permitted workers to fatten their retirement checks by buying a year of employment that they had not served. The price was miscalculated by $146 million. So in 2003, the price went up, but the employees were given several months to buy in at the former lower price. They rushed in -- for $146 million worth. That's what SDCERS says the taxpayers must pay for. The vote was 8-0. "It is disappointing to see Mayor Sanders's appointees vote this way," says Aguirre. Ann Smith, lawyer for the Municipal Employees Association, gloated about "yet another victory" for MEA members. Sanders won the mayoralty promising to reform such labor abuses. For political reasons, he has done nothing. Councilmember Donna Frye asked the 6000 workers to voluntarily make up the difference, but they refused.