Showing posts with the label san diego pension

San Diego Pension Funds at Risk

Pension funds are increasingly risky and placing greater liability on cities throughout the country. On a national level, the risks to cities is large and this creates problems for cities that want to ensure they are fiscally sound. On a $10 billion fund San Diego has exposure of more than $20 billion that could subject taxpayers to an additional $10 billion in losses (McDonald, 2015). People rely on these pension funds for their retirement and it is important to ensure that decisions are being made in the best interest of the city, state, and pension beneficiaries. Pension funds that take on excessive risk or who are increasingly exposed year after year need additional attention to get them back on track. San Diego is not alone in its predicament. The Pew Center reviewed 2009 data and found that most cities are under risk with their pensions (Bradford, 2013). Not enough was done to ensure that these pensions are running at their optimal level and were adequately protecting the