SF pension measure qualifies

Steven Greenhut:

Here is the Smart Reform press release … good news:

San Francisco Public Defender Jeff Adachi‘s Sustainable City Employees Benefits Reform Act has qualified for the November election.  The Department of Elections confirmed today that the measure received the required number of valid signatures, allowing the initiative to go to the voters of San Francisco.

“I would like to thank the people of San Francisco who signed our petitions and the Department of Elections who confirmed qualification of the measure for the November ballot,” said Adachi.  “The Sustainable City Employees Benefits Reform Act is a reasonable and moderate step that San Francisco can take to bridge our escalating budget deficit and save $170 million per year. These savings can be used to preserve the services that people rely upon and the jobs that people depend upon.”

On July 6, Adachi submitted over 77,000 signatures, well over the 46,000 required, for an initiative to qualify for the ballot.  If the measure is approved by voters in November it will save $170 million by requiring employees to contribute 9%  into their pensions, which will include elected officials, and police and fire to contribute 10% . SF Smart Reform will maintain 100% medical coverage for all employees and allow a 50-50 shared provision for dependent healthcare.