By Patrick McGreevy | Los Angeles Times — Gov. Jerry Brown came to office promising to reduce the state’s burgeoning pension costs … Saying the system is not financially sustainable, the governor has laid out a 12-point plan to change it. He would raise the retirement age, require many employees to contribute more toward their benefits and stop allowing workers to buy retirement credit for years they don’t work, among other changes. … But key parts of the plan would apply only to people hired in the future — after the overhaul passed the Legislature and became law. … “The governor’s plan doesn’t go far enough,” said Dan Pellissier, president of California Pension Reform, a group led by former state officials that is proposing a ballot measure to rein in pensions further.
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Gut the pension system, health benefits and perks. No other corporations allow this to happen and most are not going bankrupt. We can’t bail you out. Bring back to a California we can be proud of.
Moraga, CA
Not to worry (unless you are on the collecting end of these pensions) ….. the taxpayers have ZERO intention of paying. The pensions haircuts will be 50-75%
Forget pension spiking. The entire retirement scheme was spiked when the legislature passed 3% @ 50, instead of 2%. That was a retroactive increase for everyone in exchange for nothing. It was sold on the notion it wpoiuldn’t cost the taxpayer anything. Soon it will cost the taxpayer everything to an absurd result where all tax dollars will just fund pensions. Yes, that’s it, just pensions. Apparently, no one in California has the courage to change any of this. I call it the largest heist of all time.