Lexin v. City of San Diego

Opinion

McCONNELL, P. J.

This is the latest appeal arising from the City of San Diego’s (the City) infamous underfunding of its employment retirement system. In 2002 the Board of Directors (board) of the San Diego City Employees’ Retirement System (SDCERS) approved the City’s proposal to modify the funding plan to delete the potential of a balloon payment if the underfunded ratio fell to a certain level, in exchange for the City’s resolution to indemnify the board members from liability for “any claim or lawsuit” arising from the approval. In Torres, supra, 154 Cal.App.4th at pages 224-226,…