We've reported a bit on Supervisor Sean Elsbernd's attempts to save the city a modest bundle via pension reform, and the SEIU's attempts to amend the plan via Supervisor Eric Mar.
While Mar claimed his amendments wouldn't cost the city any additional money, Elsbernd disagreed — and, now the city's number-crunchers can quantify why. Peg Stevenson, director of the city's performance group, has calculated that the labor-crafted Mar amendments would cost the city $13.2 million annually. Since the point of “pension reform” is to save money — and not spend more — this is a somewhat incredible development.
Here's why the Mar amendment would cost the city millions: