SAN FRANCISCO — Pension liabilities have tripled from a year ago due to investment losses, siphoning scarce funds from San Francisco at a time when elected officials are already facing a $360 million budget shortfall.

The new forecast was contained in a report Cheiron prepared for the city this month. The actuarial consultant projects that unfunded actuarial pension liabilities this fiscal year will reach $1.57 billion for the $13 billion employee retirement system, due mainly to losses on investments. That compares with $493 million for fiscal 2010, which ended June 30.

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