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Civil grand jury warns of rising pension costs and flags possible 'spiking'; SFERS, departments and unions call for further analysis and warn against abrupt DB/
Summary
A civil grand jury report highlighted rising pension contributions, estimated possible incremental costs from flagged final‑year pay increases, and recommended audit and policy review; SFERS, the controller and department heads disputed the report’s characterization and called for further analysis rather than immediate forensic action.
A civil grand jury pension report focused on San Francisco Employees’ Retirement System (SFERS) costs for safety personnel and raised concerns about long‑term affordability and a practice the jurors characterized as "pension spiking." The hearing drew extensive department responses, union and retiree testimony and cross‑examination by supervisors.
The grand jury presenters said the city’s pension picture demands attention: they reported SFERS membership data, cited an employer contribution of about $175 million in the period referenced and noted projected scenarios that could push contributions much higher in out‑year analyses. Using a threshold (10 percent final‑year pay increases) the jurors flagged cohorts of police and…
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