US - The San Diego City Council has voted 5-1 to accept preliminary proposals for reducing the $1.2bn deficit in its employee pension system, including selling off the city's real estate assets.
Ideas to offset the shortfall by raising $600m through a combination of methods include generating approximately $300m through the issuance of pension obligation bonds (POBs), plus finding further ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
