Remember that unlike San Jose and Oakland, SF doesn't have to spend 20% of its general fund on retirements for people who no longer work there because it has so many business HQs to generate tax revenue to offset pension liabilities and it's also a city-county.https://twitter.com/hknightsf/status/1134563915621265408 …
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Replying to @kimmaicutler
My understanding is that while SFERS isn't in as bad shape as other pension funds, it's still underfunded by a decent margin? So theoretically while there's a surplus, it could easily be used up if SFERS was 100% funded, like it was prior the recession?
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Replying to @dengkai
we have $4-5B in unfunded liabilities and then another $5 in unfunded healthcare liabilities or OPEB, but we're not in as bad shape as literally everywhere else.
2:37 PM - 31 May 2019
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