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San Diego Mayor Proposes Hybrid Pension Plan
Pensions & Investments Mar. 26, 2008 Excerpt: Mayor Jerry Sanders is proposing to switch new non-safety employees to a hybrid pension system that includes a lower-paying defined benefit plan, a mandatory 401(a) defined contribution plan and a voluntary 401(k) plan. Under the mayor's proposal, new city employees' benefits would get fewer benefits from the existing $5.05 billion defined benefit plan. |
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