SAN JOSE (CBS/AP) — The city of San Jose and its police union have reached an agreement that will reduce pensions for new officers and ends a dispute over efforts to reduce costly retirement benefits.
The settlement with the San Jose Police Officers’ Association was struck late Thursday. An arbitration hearing was planned for Friday to settle the dispute and the two sides still plan to meet to formalize the deal.
The city has been wrangling with its employee unions over retirement benefits whose costs have more than tripled in a decade.
Voters approved a series of ballot measures aimed at checking those costs. Unions are seeking to overturn the most recent measure which limits new-hire pensions.