Voters Push Pension Relief in San Francisco

Wednesday, Sep 29, 2010  |  Updated 5:41 PM PDT
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Voters Push Pension Relief in San Francisco

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A zen garden created by Ivan Shvartz is seen in the middle of Union Square in San Francisco.

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San Francisco voters have overwhelmingly approved a ballot measure aimed at curbing escalating pension costs for city workers.    

According to the San Francisco Department of Elections, Proposition D passed Tuesday with 75,000 votes. That was 78 percent of the total ballots cast.

The measure, which required a majority to pass, would increase the employee contribution for pensions from 7.5 percent to 9 percent and require contributions to the retiree health trust fund in good economic years.

It also would base retirement benefits on the average monthly salary of an employee's last two years of service, instead of just the last year.

The city controller estimates Proposition D would save taxpayers between $300 million and $500 million over 25 years.
     
 

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