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Calculating the Combined Value of San Diego's Two Pension Plans
PensionWatch 
July 24, 2008
Excerpt: AS A CITY, San Diego is unusual -- almost unique -- in that it provides its 'general' city employees (all but police and firefighters) with not just one, but TWO FULL MATCHING PENSIONS. In addition to the traditional government defined benefit (DB) plan common to all cities, San Diego also provides such employees with a 401k-type, defined contribution (DC) plan -- their SPSP plan. These employees must put in a minimum of 3% into their earmarked account, and can put in more up to set limits (see Excel spreadsheet [on the target page]). Whatever they put in, the city will match dollar-for-dollar. This spreadsheet is designed to show the combined value of these two benefits.
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