City retirees get bonus checks averaging $784 as "13th check"

The San Diego Union Tribune reports:

San Diego’s pension system is saddled with a $2.1 billion deficit and still handed out bonus checks last month — most ranging from $300 to $900 — to retired city workers after better-than-expected investment returns.

In all, about 6,630 retirees received $5.2 million collectively, an average of about $784 each.

The payments are the continuation of a 30-year-old practice — known as the 13th check — that calls for the San Diego City Employees’ Retirement System to issue supplemental checks to retirees whenever its earnings exceed a certain level in a fiscal year.

Would you want these people to run your health care plan?