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San Jose responds to grand jury report on $3.4 billion in unfunded pension liabilities

SEPTEMBER 17, 2019 | by Adam Hutton | SAN JOSE SPOTLIGHT (CALIFORNIA)

Growing retirement benefits and poor investment returns are at the heart of San Jose’s ballooning pension obligations … according to a Santa Clara County Civil Grand Jury investigation the City Council plans to discuss at Tuesday’s meeting. But the city’s Director of Employee Relations and Human Resources and the chairmen of its two pension boards are pushing back against some of the grand jury’s recommendations.

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