Santa Clara County Grand Jury
• 2003-2004
Inquiry Into the Financial Impact of Retirement Programs on Santa Clara County and the City of San Jose
⚠️ Translation Notice: This content has been automatically translated. The original English text is the official version. Translation may contain errors.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 1 findings
FI
The San Jose and County governments have negotiated generous pension programs that have an increasingly large negative impact on their budgets. These defined-benefit programs rely on future increases in the financial markets to pay pension benefits. The government is responsible for any shortages in fund performance.
No recommendations for this finding
No Responses Found 1
Government entities assigned to respond to this report. No response documents have been linked in our database.
San Jose
City