Difference between revisions of "San Francisco Public Employee Pensions, Proposition D (June 2010)"

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A '''San Francisco Public Employee Pension Reform''' ballot measure, '''Proposition D''', is on the {{jun08ca2010}} in {{san francisco}}.<ref>[http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/02/BASO1C9UN9.DTL ''San Francisco Chronicle'', "S.F. ballot measure would save pension costs", March 3, 2010]</ref>
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{{tnr}}A '''San Francisco Public Employee Pension Reform''' ballot measure, '''Proposition D''', is on the {{jun08ca2010}} in {{san francisco}}.<ref>[http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/02/BASO1C9UN9.DTL ''San Francisco Chronicle'', "S.F. ballot measure would save pension costs", March 3, 2010]</ref>
  
 
The proposal will:
 
The proposal will:
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Proposition D, if enacted, will apply to employees hired after July 1, 2010.
 
Proposition D, if enacted, will apply to employees hired after July 1, 2010.
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==Supporters==
  
 
Mayor [[Gavin Newsom]], Public Defender Jeff Adachi and San Francisco Supervisors Campos, Elsbernd and Mar support Proposition D.<ref>[http://www.beyondchron.org/articles/June_Ballot_Measures_Reflect_City_s_Political_Fault_Lines_7943.html ''Beyond Chron'', "June Ballot Measures Reflect City’s Political Fault Lines", March 24, 2010]</ref>
 
Mayor [[Gavin Newsom]], Public Defender Jeff Adachi and San Francisco Supervisors Campos, Elsbernd and Mar support Proposition D.<ref>[http://www.beyondchron.org/articles/June_Ballot_Measures_Reflect_City_s_Political_Fault_Lines_7943.html ''Beyond Chron'', "June Ballot Measures Reflect City’s Political Fault Lines", March 24, 2010]</ref>
  
==External links==
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The [[San Francisco Chronicle]]'s editorial board is endorsing a "yes" vote on Proposition D, saying: "This measure will dent a significant problem: financial promises to retired workers that are outpaced by rising health care costs and declining investment returns. It also shores up the city's image with financial rating agencies wondering what steps San Francisco is taking to limit future liabilities."<Ref name=sfc>[http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/05/15/EDDH1DD0RA.DTL&type=politics ''San Francisco Chronicle'', "San Francisco's ballot measures", May 16, 2010]</ref>
  
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==External links==
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{{submit a link}}
 
* [http://www.sfgov2.org/ftp/uploadedfiles/elections/ElectionsArchives/Meeting_Information/BSC/agendas/2010/Legal%20text,%20leg.%20digest-Retirement%20Benefit%20Costs.pdf Official text of Proposition D]
 
* [http://www.sfgov2.org/ftp/uploadedfiles/elections/ElectionsArchives/Meeting_Information/BSC/agendas/2010/Legal%20text,%20leg.%20digest-Retirement%20Benefit%20Costs.pdf Official text of Proposition D]
 
* [http://www.sfgov2.org/index.aspx?page=825 Official ballot proposition list for San Francisco's June 8, 2010 election]
 
* [http://www.sfgov2.org/index.aspx?page=825 Official ballot proposition list for San Francisco's June 8, 2010 election]

Revision as of 09:15, 16 May 2010

A San Francisco Public Employee Pension Reform ballot measure, Proposition D, is on the June 8, 2010 ballot in San Francisco.[1]

The proposal will:

  • Require new public employees hired by the city to contribute 9% to their pension, rather than the 7% contributed by existing public employees of the city.
  • Require the city to set aside some funds every year to pay for the future known costs of the city's pension plan.
  • Base pension payouts on what an employee earned in the last two years of employment, rather than in the last year.

Proposition D, if enacted, will apply to employees hired after July 1, 2010.

Supporters

Mayor Gavin Newsom, Public Defender Jeff Adachi and San Francisco Supervisors Campos, Elsbernd and Mar support Proposition D.[2]

The San Francisco Chronicle's editorial board is endorsing a "yes" vote on Proposition D, saying: "This measure will dent a significant problem: financial promises to retired workers that are outpaced by rising health care costs and declining investment returns. It also shores up the city's image with financial rating agencies wondering what steps San Francisco is taking to limit future liabilities."[3]

External links

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References

  1. San Francisco Chronicle, "S.F. ballot measure would save pension costs", March 3, 2010
  2. Beyond Chron, "June Ballot Measures Reflect City’s Political Fault Lines", March 24, 2010
  3. San Francisco Chronicle, "San Francisco's ballot measures", May 16, 2010

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