As Mayor Ed Lee is working with labor leaders to arrive at a consensus November ballot measure to rein in pension costs, Public Defender Jeff Adachi is moving ahead on his own and announced Wednesday the launch of a signature collection drive to place his measure on the ballot this November.
Adachi’s coalition, called San Franciscans for Pension Reform, must collect nearly 50,000 signatures from city voters by July 11.
“This charter amendment adopts a progressive, equitable approach to funding the city employee pension system, saving between $90 million and $114 million per year,” Adachi said in a statement.
It would increase the pension contribution of city workers based on salary ranges and the city’s contribution rate each year, so if the city’s contribution increases so would the city employees’ contribution.
The measure would exempt city workers earning $50,000 or less from any pension contribution increases.
Lee has said he will be introducing a November charter amendment to the Board of Supervisors to rein in pension costs by the deadline of May 24 or earlier.
Adachi has said he would agree to one consensus measure if he thought it went far enough.