[quote=temeculaguy]phaster the OP was about SD county from 2014, your rant is about SD city, two separate systems. FWIW SD county spent the last few years renegotiating employee contracts shifting the pension burden to the employees,changing formulas for new employees and eliminating health benefits to pensioners. I know first hand some county employees retiring and taking state jobs for the retiree health benefits for life after 5 years (and age 50) for no reason other than health benefits drying up at the county level. SD county is fiscally conservative and has an excellent bond rating because they like to pay cash and avoid debt. My friends with the county planned on lifetime medical and had to change plans once that went away. As far as the OP on county pensions, now fully funded and derivative playing advisers all fired. Its back to boring and reduced benefits, meaning no local impact from the county at least as far as the county goes, the city is another story and i do not have any inside information as far as the city goes. I’d imagine they will follow suit at some point. The trend is towards the elimination of the traditional pension, hopefully that makes you sleep better.[/quote]
Thanks for the clarification, TG. You explained it better than I could. Yes, lifetime healthcare allowances were never guaranteed to “Tier A” SD County retirees (SDCERA members who retired or took deferred retirement since 3/31/02). I took deferred retirement prior to that date and thus am guaranteed a healthcare allowance (HIR) for life under “Tier I.” However, my pension was calculated on a much less generous formula than “Tier A” recipients, which was bargained for and in place at the time of my leaving county employ.
City (SD) MUST honor all DROP contracts they made with prospective retirees (SDCERS members) who agreed to work the required five more years for them (to prevent a mass exodus and “brain drain”). However, all of the affected SDCERS members should be fully “retired” by mid to late 2016. I know several who will finally be gone by June 2016.
Newbie Pigg phaster is in the habit of posting multiple (mostly dated) links in effort to incite public “outrage” over contracts made long ago with current and former CA local government employees.
