It is clear that the budget deficit this year and in future years cannot be solved only by pension reform. Even if the city stopped matching the employee contributions at the current rate of 250 percent to the average employer match on a 401K of 3-6 percent, taxpayers would still have a multi-billion dollar unfunded liability from commitments to current and future retirees already vested. Why beat around the bush when we know taxes will have to be raised to afford the pension obligations and maintain bare minimum services laid out in the city charter?

Councilmember Sam Liccardo has drafted a memo to explore a ballot measure that would increase local sales taxes to specifically fund public safety.