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|San Diego Mayor Unveils Proposals for Pension Fix|
The San Diego Union-Tribune
July 8, 2004
Excerpt: The pension system has a $1.15 billion deficit and unfunded retiree health care costs estimated at between $600 million and $938 million. The deficit is the result of benefit hikes, the 2000-2002 stock market decline and eight years of underfunding by City Hall, including in a 2002 deal approved by [Mayor Dick] Murphy and the City Council.
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