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Brief | Trouble Brewing in San Diego

Released: 10/6/2010

Author(s): Stuart Buck

 
The city of San Diego will face enormous budgetary pressures from the growing deficits in public pensions, both at a state and local level. In this policy brief, I estimate that San Diego faces total of $45.4 billion, including $7.95 billion for the county pension system, $5.4 billion for the city pension system, and an estimated $30.7 billion share of unfunded liabilities for California state retiree benefits. These estimates are made by correcting the state and local pension plans’ figures, which use a too-optimistic assumption that their investments will grow by about 8% per year for the indefinite future.

 

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