Press Release | California Pension Reform — California Pension Reform today filed two initiative proposals with the Attorney General’s Office. After reviewing the title and summary from the Attorney General and the fiscal summary from the Department of Finance, the group will qualify one pension reform initiative on the November 2012 ballot.
“Other than defenders of the status quo, no one disagrees that our unfunded pension and retiree benefit obligations are decimating the capacity of our state and local governments to deliver critical public services. Unless we act now the situation will only get worse,” said Mike Genest, former California Director of Finance.
“While we would prefer to see a legislative solution to this problem, we know full well that there is little chance of that happening. We cannot afford to postpone decisive reform while our elected leaders debate half measures. We must act now.”
“We were encouraged to see the Governor come forward with a serious proposal and have added the elements where his proposal fell short,” said Dan Pellissier of California Pension Reform. “We will file this along with our original proposal and fully evaluate our options after the Attorney General’s Office releases the title and summary of each. There is more than one path to solving our pension crisis and we will work to qualify the best option for the November 2012 ballot.”