SF pensions could further deepen city's debt

SAN FRANCISCO

The report is called "Pension Tsunami: The Billion Dollar Bubble."

It says the city's pension costs will swell from $413 million to $1 billion a year in the next five years.

Next year alone, some $63 million will come out of the city's general fund to help pension costs.

The grand jury says unless the issues are addressed all other city services could be in jeopardy.

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