Across America, state and local governments are wrestling with the rising costs of public employee pensions, which have cut into funding for police, fire, education, and other public services. The most ambitious public pension reforms have occurred in San Diego.
The Comprehensive Pension Reform Initiative, passed in June 2012, shifted newly hired San Diego city employees into 401(k)-type pensions that are benchmarked against private-sector plans, while reforming abuses such as “pension spiking” and ensuring that public employees pay an equal share of the costs of their pensions. Total savings from the initiative will reach $1 to $2 billion over the next 20 years.
This event will feature a presentation from Carl DeMaio, who — as a member of the San Diego City Council — championed the pension initiative and now seeks to apply its lessons nationwide.
If you are unable to attend, we welcome you to watch the event live on this page. Full video will be posted within 24 hours.