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Three Former City Officials Charged by SEC with Fraud Are Receiving Generous City Pensions

Three of the five former City employees charged by the Securities and Exchange Commission (SEC) with issuing false and misleading financial statements in bond offerings are now receiving juicy pensions from the City, according to City Attorney Mike Aguirre, who requested the information from the San Diego City Employees' Retirement System (SDCERS). Patricia Frazier, former deputy city manager with 35.80 years of service, is enjoying pension benefits of $13,685.66 a month. Former Auditor & Comptroller Ed Ryan, with 24.26 years of service, is taking in $10,165.62 a month. Former City Manager Michael Uberuaga, with 10.4 years of service, is taking home $5,053.77 a month. Former City Treasurer Mary Vattimo and former Comptroller Terri Webster are not old enough to retire, but are deferred members of SDCERS. Last week, Aguirre recommended that city council not pay the legal defense fees of four of the five defendants of the SEC fraud complaint.

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Another Brick (Suit) in the Wall

Three of the five former City employees charged by the Securities and Exchange Commission (SEC) with issuing false and misleading financial statements in bond offerings are now receiving juicy pensions from the City, according to City Attorney Mike Aguirre, who requested the information from the San Diego City Employees' Retirement System (SDCERS). Patricia Frazier, former deputy city manager with 35.80 years of service, is enjoying pension benefits of $13,685.66 a month. Former Auditor & Comptroller Ed Ryan, with 24.26 years of service, is taking in $10,165.62 a month. Former City Manager Michael Uberuaga, with 10.4 years of service, is taking home $5,053.77 a month. Former City Treasurer Mary Vattimo and former Comptroller Terri Webster are not old enough to retire, but are deferred members of SDCERS. Last week, Aguirre recommended that city council not pay the legal defense fees of four of the five defendants of the SEC fraud complaint.

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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