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Pension Reform

San Diego continues to look for innovative ways to reduce its pension liabilities in order to ensure a brighter financial future.

Since taking office, Sherri has worked with Mayor Sanders and her Council colleagues to enact meaningful pension reform, including:

  • Voting to approve the historic agreement on retiree healthcare that will save the City hundreds of millions of dollars.
  • Enacting a new pension plan that provides long-term savings – as much as $17 million in 2030 and $28 million in 2040.
  • Instituting a citywide 6 percent salary reduction – including cutting her pay and her staff’s pay – which reduced the City’s unfunded pension liability by $100 million.
  • Voted to give the City Council greater oversight on SDCERS Pension Board settlements, protecting taxpayers from unreasonable payouts in the future.

Sherri supports continued reforms to the City’s pension system, while working collaboratively with city employees to ensure that they are fairly compensated for their hard work.