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Cory Briggs runs for mayor of San Diego

huh,... ***The mayor's speech, wherein he seemed to recite developers’ wish lists, mentioning in passing the city’s $2,8 billion pension deficit, was applauded by most attendees,*** What you might find interesting is something directly related,... a recent front page article in the UT about an annual 13th pension check which has been paid out for decades,... but the thing not mentioned in that news article is that policy is based on "bad math" which the city council looked at and acknowledged. **Have a look at the look at the PDF document (link below)** which shows the front page news article, a simple explanation of the problem, then lastly the "highlighted" document that I found while googling which explicitly states local politicians and bureaucracy acknowledged the way the portfolio is setup/managed wasn't math kosher, yet the annual 13th pension checks still keep on happening! https://www.TinyURL.com/13thcheck One unanswered "simple" question remains,... who gets stuck with paying the big clean up bill for the basic "bad math" error which continues to create ever growing public pension debt. If you think a 13th public pension check isn't all the big a deal, perhaps you might want to consider the fact that Detroit had a pension system w/ a 13th public pension check feature,... and look at Detroit now (i.e. that city is recovering from going bankrupt) NOTE in the “highlighted” PDF of the UT article I've linked to, it mentions a “watchdog” analysis calculation of $200 million The UT watchdog analysis caught my eye because it seems pretty darn low?! The reason for this gut reaction is because if the 13th public pension check program started back in 1980 AND during the time frame from 1980 to 2011 bonds and equities achieved many annual double digit returns https://www.thebalance.com/stocks-and-bonds-calen… So looking at historical market average returns,… tells me the sum would have grown to much more than $200 million if it were invested over three decades when the market returns were favorable. Said another way,… if the money spent on annual 13th checks would have been instead reinvested to help offset the city’s pension obligation,... the debt burden on taxpayers would be significantly lower.
— January 30, 2019 8:40 a.m.

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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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