By Daniel Borenstein | Contra Costa Times — In November, Berkeley City Manager Phil Kamlarz traded his $250,000-a-year job for retirement with a starting pension of about $266,000 annually. The deal highlights the city’s generous pension program, which is one of the better plans in the state but by no means unique. The costly program is also $420 million underfunded, a shortfall equal to more than three years of city payroll, according to the city’s latest actuarial reports. Read the entire article . . .
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