BANDT
Bandt v. Board of Retirement of San Diego County Employees Retirement Ass'n
Opinion
Opinion
Aaron, J.
I.
INTRODUCTION
Appellants William M. Bandt and Byron E. Ellsworth are former employees of the County of San Diego (County) and are members of the San Diego County Retirement Association (Association). The Association is administered by the Board of Retirement (Board). The County is a public agency that elected to establish the Association’s pension fund (pension fund or fund) pursuant to the County Employees Retirement Law (CERL). (Gov. Code, § 31500.) The Board manages the pension fond pursuant to article XVI, section 17 of the California Constitution and the CERL (Gov. Code, § 31450 et seq.). Under the CERL, counties make contributions to their members’ pension funds to cover the normal accrual of liabilities and may make additional contributions to cover any amortized unfunded liability in the fond. (Gov. Code, § 31453.5.)
In March 2002, the County increased the pension benefits for members of the Association, including appellants, by approximately $1.1 billion. This increase in benefits caused a corresponding increase in the liabilities of the pension fund. Prior to this increase in benefits, the County decided that rather than amortizing the full amount of the…