By Ryan McCarthy

Getting off the “Titanic” will cost more than staying aboard.

Fairfield Councilwoman Pam Bertani supplied the description of the California Public Employees’ Retirement System, and consultant John Bartel provided the cost analysis.

The city’s pension costs will climb yearly for the next decade until they’re projected to reach $37.5 million annually, Bartel’s study for Fairfield said.

“This is a bad deal. This is a very bad deal,” Bertani said. “We can’t afford it.”

Source: Exiting CalPERS ‘extremely expensive,’ Fairfield council told