San Diego Countys Deputy District Attorneys Association filed a claim against the countys $3.9 billion retirement system. The claim charges the county improperly stopped contributing to the San Diego County Employees Retirement Association when it became overfunded. The deputy district attorneys claim that not contributing more money is jeopardizing employee benefits.
The deputy district attorneys claim that beginning in 1996, the retirement systems excess earnings were "converted and continue to be converted by the county to relieve it of its obligation to make required cost contributions. The claim says the excess earnings, under state law, should be used to boost benefits instead of being counted as a contribution.
"The Deputy District Attorneys Association is raising unfounded and unsubstantiated accusations regarding pension benefits and payments for employees of San Diego County, according to a statement released yesterday by the retirement system. "To date, the Deputy District Attorneys Association has not attempted to contact the Retirement Association in an effort to earnestly obtain truthful and factual information about its handling of contributions, investments and benefits before making these patently false statements.
The statement added that because of the "unprecedented financial health enjoyed by the fund in recent years, member benefits were enhanced and employee and employer contributions lowered.