SDCERS funding plan "nonsensical": report
US - The US$3.6bn San Diego City Employees' Retirement System' s funding plan did not make "economic or actuarial sense" and was the primary cause of its estimated US$1.7bn pension deficit, a new report has found.
Accounting firm Navigant Consulting made the statement in relation to two earlier agreements, one in 1996 when the city manager allegedly requested the SDCERS board approve contribution rates at lower...
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