San Diego Businesses Speak Out Against Threat to Retirement Security from Proposition B

by Erick Sanchez  |  May 02, 2012

No on Measure BSAN DIEGO – Last week, the Greater San Diego Business Association stood with working families to reject the unfair, misguided Proposition B, which threatens the retirement security of hardworking San Diego city employees.

GSDBA is one of the largest specialty chambers in San Diego County and the second largest LGBT-supportive chamber in the nation. The group noted that Proposition B, slated for a public vote June 5, will cost the city money instead of saving it.

"The potential harm from Proposition B is too great for us to remain on the sidelines," said Tom Luhnow, CEO of the Greater San Diego Business Association. "Our responsibility is serving our more than 850 member businesses, and there is no question after reviewing Proposition B that it is bad for the small businesses we represent and bad for San Diego."

Essential city employees have made $1 billion dollars in pension benefit concessions just to keep their jobs. Meanwhile, extreme politicians on the City Council are unwilling to share the sacrifice. Although the average city pension is $40,000, some executives and politicians, including the mayor, have $100,000 pensions.

Ninety percent of the savings from this measure actually come from a five-year pay freeze that would be imposed on city workers, not because of any of the changes to pensions. It’s clear that this proposition is used solely to score political points with no real intention of moving San Diego forward.

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