Showdowns loom in California over public pensions

By Jim Christie | Reuters — There’s no avoiding a ballot showdown over paring public employee pensions in California’s third-largest city, its mayor said on Wednesday.

San Jose Mayor Chuck Reed told Reuters by telephone he has enough backing from city council members to put his plan for cutting about $100 million a year in pension expenses over two decades to city voters next March.

The council is expected to vote on December 6 on advancing the plan to the ballot. That will involve declaring a fiscal emergency for Silicon Valley’s biggest city, whose unionized employees have been tangling with Reed’s administration over its plans to rein in rising pension costs.  Continue reading . . .

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