Reply by Don Bauder: I disagree. Check out the new report on the city attorney's website. It has a good discussion of DROP costs. Also, Donna Frye has put out a penetrating memo dealing with the topic. It is available on http://www.sandiego.gov/citycouncil/cd6.
Posted by Sparky on 12/20/07, 7:40 a.m.
Don, The DROP is not paid by the City. The DROP as pointed out by JF is the retirees retirement payment placed into a seperate account. Would you feel better if I left City service at age 55 (the average age for safety) and went to work for the County; place my retirement check into my own annuity; worked for 5-8 years and then started travelling? There is no difference. Except the City capped the retirement at 90% so there would really be no reason for me to stay. I would receive 90% at age 52 after serving 30 years as a safety member. You got it wrong this time Don. The DROP is not the issue or the problem. The underfunding is!!! The increase in benefits and no adjustment in payments by employee and City. That is not the employees fault, nor the Unions. The City messed this up and did not do their due diligence.
Reply by Don Bauder: The underfunding of the pension system IS the big problem -- no question about that. But DROP is not cost-neutral by a long shot. Even the former SDCERS lawyer admitted that DROP was extraordinary among such programs. It IS double-dipping.
Posted by anton on 12/20/07, 11:10 a.m.
Want and only way = key decision makers & implementers of stripped of their hauls and jailed in 'Enron by the Sea'. Another v. good informational posting by Don Bauder. Dec. City Attorney Report re SDCERS v. good with excellent graphs showing the pension debacle. Also, any truth seekers should check out Pat Flannery's v. good info. too.
Reply by Don Bauder: Yes, the city attorney's most recent report on the pension system -- showing how close San Diego is to the financial edge -- is clear and readable, if terrifying. And I agree that Pat Flannery has an excellent blog.
Published December 19
Posted by Steve Heimoff on 12/20/07, 9:51 p.m.
Matthew, thank you for largely getting my quotes right. But my first name is Steve, not Bob. Cheers, Steve Heimoff
Posted by Lickona on 12/21/07, 8:05 a.m.
And apparently, my first name is Mud. A thousand apologies, Steve.
Diary of a Diva
Published December 19
Posted by Hil on 12/21/07, 1:49 a.m.
i may be uptight, but in my opinion everyone gets about ONE free stupid-drunk card, like maybe on their 21st bday. after that people need to learn to control themselves. i really cant respect someone who is out of control like that. i have only been tipsy/drunk a few times, it was quite lovely, and I was very careful not to get sloppy. bleh. I think people have a desire to act like infants sometimes and alcohol is the excuse.