I'm out of the loop. Can you fill me in on this story?
The SD U-T has a link with a lot of background leading up to this announcement.
http://www.signonsandiego.com/news/metro/pension/index.html
FR has a lot of info as well, which can be accessed thru keywords like san diego.
To sum it up, bad things happened that will show some of the leadersip of san diego government culpable for mismanagement for whatever reasons.
The SEC has been investigating this for well over a year.