Brown, Democrats Fail To Reach Pension Reform Deal

SACRAMENTO (CBS / AP) — Gov. Jerry Brown said he wants to keep talking with Democratic leaders about overhauling the state’s pension system during a monthlong recess that begins at the end of the week.

The governor said he couldn’t reach a deal with lawmakers on his comprehensive proposal that included raising the retirement age and moving workers to a hybrid pension-401(k) system.

Assembly Speaker John Perez said Democrats would keep working on passing a proposal before the legislative session wraps up at the end of August.

Brown’s announcement Tuesday suggests the majority party still has work to do to satisfy his demands for a comprehensive package to help contain rising pension costs. Critics say the costs are unsustainable and are starting to compete with public education and other programs for limited state and local funds.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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