"San Diego to Retroactively Replace Thousands of Employees’ DC Plans With Pensions"

San Diego will offer retroactive defined benefit (DB) pension benefits to city employees who were previously only offered defined contribution (DC) plans. This decision is a result of the California Supreme Court overturning the 2012 Proposition B. A law that moved all city employees to Defined Contribution plans and away from pensions, except police officers. Proposition B was a highly controversial law, the was eventually deemed to be illegally placed on the public ballot.

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