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San Diego Mayor Jerry Sanders proposes no pensions for new city hires

from The San Diego Union-Tribune

If San Diego Mayor Jerry Sanders has his way, the pensions that city workers collect — and have led to so much public angst over the past decade — will no longer exist for most new hires. Sanders said he'll gather signatures to put a measure before city voters that would eliminate guaranteed pensions for future employees and replace them with 401(k) accounts similar to what many private-sector workers receive. Only police officers and firefighters would continue to receive pensions under the proposed ballot initiative. more


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