Mayor Lee’s Statement on Board of Supervisors’ Unanimous Approval of Consensus Pension Proposal

Mayor Edwin M. Lee today issued the following statement on Board of Supervisors’ unanimous final approval of the proposed Charter amendment for pension and health benefits reform for the November 2011 ballot:

“After months of discussions with labor, business, community and City leaders, I am confident our consensus pension reform measure is comprehensive, fair, balanced, and responsible. 

I am grateful to Supervisor Sean Elsbernd for leading these reform efforts to restructure San Francisco’s pension and health benefits, and to Supervisors John Avalos, David Chiu, Carmen Chu, Malia Cohen, Mark Farrell, Scott Wiener and David Campos for cosponsoring our overall strategy to bring structural reforms to our City’s long term financial planning and budgeting. I thank all the Supervisors for their vote today.

Saving San Francisco $800 million to $1 billion in pension and health benefit costs over 10 years, our comprehensive measure prevents pension spiking, caps pension benefits, raises retirement age, requires greater cost sharing by employee, uses a sliding scale to protect lower wage employees, and requires greater employee contributions to protect the retiree health trust fund. Our comprehensive consensus reform measure ensures that we have a system that San Francisco can afford. By realizing the savings we need, we can protect vital City services now and in the future.”