Solve $2.3 Billion Unfunded Pension Deficit!

By Hud Collins

Restore San Diego as America's Finest City

Transfer assets of $2.3B to unfunded liability; reducing Annual Retirement Contributions (ARC) payment to approx. $60 million per year! On July 1 2013, this city paid to ARC $275 million; and expects to pay ARC $300 million on July 1, 2014!!!!

With the above plan, city services will be increased to 100% (2001 service level) from the current 70% level.

Will be able to fix street & properly fix landscape/maintenance, including potholes & sewer repairs; replace water pipes, et al. Address & expedite veterans' claims, homelessness. Full plan to properly finance expansion of Convention Center, City Hall & Charger's Stadium.

For the past 8 1/2 years, I have attended all city council meetings, and am very familiar with the major problems facing our city. In fact, I'm known as the one of the "unofficial city watchdogs & gadfly!"

If we do not address the above problems (unfunded pension liability) we could easily go down the road as cities like Stockton, Vallejo, San Bernardino, Riverside, Harrisburg PA, Detroit MI & Jefferson County AL (bankrupt due to $3.4B sewer bonds) declaring bankruptcy!

All candidates must have a plan to address the financial crisis!!