The state Legislature has approved a package of changes to California’s public employee pension system that is expected to save taxpayers billions of dollars, even as Republican lawmakers said much more needs to be done.
KCBS, CBS 5 and Chronicle Insider Phil Matier looks at the root of the argument for pension reform.
The bulk of the projected savings in the pension-reform deal announced by Gov. Jerry Brown won’t be felt for decades because most of the proposed changes will affect employees who have yet to be hired.
The San Jose City Council passed an ordinance Tuesday that will implement a second tier pension plan for new employees.
Gov. Jerry Brown on Tuesday announced systemic reforms to California’s badly underfunded public pension system that he says will save taxpayers billions of dollars over time.
The California State Auditor has released a new report showing San Jose officials likely overstated future pension costs by millions of dollars, with the higher figures used in the lead-up to June’s controversial pension reform measure.
California’s State Legislature returned to work Monday from its summer recess with pension reform topping their agenda as well as hundreds of bills they still need to consider.
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.
If the Governor’s tax proposal has any chance of passing in November, a government reform measure is due and legislators only have until June 28 to vote on any such measure.
Rising pension costs are decimating essential city services, according to a grand jury report issued Wednesday.