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SDCTA to release new regional pension analysis TODAY that shows costs are increasing in most local cities and the total debt stands at $800 million

WHO: Lani Lutar, Chris Cate, Solana Beach City Manager David Ott WHAT: Press Conference to discuss the release of SDCTA’s 2013 city-by-city pension analysis WHERE: 707 Broadway, Downtown San Diego, 7th Floor Conference Room WHEN: TODAY, February 14 at 10AM BACKGROUND: Among the 17 cities SDCTA analyzed, Coronado, Lemon Grove and Del Mar will see the largest increases in pension costs for the upcoming fiscal year, which begins in July. Solana Beach will see the largest decrease in pension cost. Solana Beach officials have made several pension reforms, including the creation of a second-tier plan for new hires that costs taxpayers less money. "Pension costs are an issue most municipalities are grappling with," Solana Beach Mayor Mike Nichols said. "I’m proud that the Solana Beach City Council was the first in San Diego County that enacted comprehensive pension reform for all our employees. It was important to protect our taxpayers and control and reduce our employee pension costs while at the same time ensuring that our employees had adequate retirement benefits at the end of their career and service to the community. I appreciate the work SDCTA has done on highlighting this important issue. It's important that all of us do what we can to keep a lid on pension costs. Our communities deserve nothing less." Lani Lutar, SDCTA's president and CEO, said several cities deserve credit for taking steps to reduce pension costs. "Cities like Imperial Beach, Solana Beach and Escondido should be commended for making choices that best serve taxpayers," Lutar said. "Our latest city-by-city pension analysis shows reforms work. It also shows more can be done to reduce pension costs and protect police and fire budgets, library hours, parks and other city services. We hope those cities that can make changes do so, and we also hope CalPERS does not take steps to reduce savings from the modest pension reforms approved recently in Sacramento. SDCTA will continue to keep an eye on local pensions and we strongly encourage our elected officials to do what they can to ensure taxpayers are protected from unnecessary costs." SDCTA’s full report will be released at the news conference and available afterward at www.sdcta.org