‘We’ve got to fix the pension system’ says Gov. Brown

By Melinda Meza | KXTV – Gov. Jerry Brown unveiled his 12-point pension plan to lawmakers Thursday.

Brown aims to reform state employee’s pension plan and save $900 million a year.

“A lot of the items I’ll propose in January you are not going to like, “Brown said.

The plan proposed moving new employees to a hybrid system that combines pensions with a 401K style plan. Many employees will have to contribute at least half of their pension costs. Continue reading . . .

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