San Diego Faces Severe Budget Crisis Amid Soaring Pension Costs
Accelerating Growth of Pension Costs Have Painted City and County into a budget corner. Court repeal of pension reform measures and Electorate rejection of tax raises have left a festering problem and city leaders have few ways out. City Pension Annual Payouts projected to peak in 2044 at $680M San Diego Faces Severe Budget Crisis Amid Soaring Pension Costs San Diego city and county governments are grappling with a deepening financial crisis, driven largely by mounting pension obligations that threaten to force widespread service cuts and potential layoffs. The City of San Diego faces a record-high pension payment of $533 million this year, contributing to a projected budget deficit exceeding $350 million. City officials estimate this shortfall could result in between 250 to 750 layoffs from the city's 12,000-person workforce, with parks, libraries, and other non-public safety departments likely bearing the brunt of cuts. "We can't continue to provide the same levels of se...