Published: 1 years 110 days ago
Sacramento Bee: The cost of public employee pensions is about to hit City Hall even harder.
Due in large part to a 2008 CalPERS investment loss, the city will have to add $5 million to its annual payment into the retirement
system this year, budget officials said this week.
Mayor Kevin Johnson said earlier Tuesday that the city was able to shield public safety agencies from the worst of the cuts last year and that "we're going to do everything we can to preserve" those departments again this year.
"I think it's a commitment from all of us on council," the mayor said.
"We want to make sure that we are a full-service city, but part of being a full-service city is making sure that our streets are safe and secure for our public, and that's a commitment that all of us are willing to make."
http://www.sacbee.com/2011/02/02/3370471/public-employee-pensions-add-to.html#ixzz1CopSTzAr
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