Pension reform one city at a time - San Jose and San Diego

Pension proposition reform results of the June 5, 2012 election.  Lawsuits will follow.

City, County, State 30 year problem, fix it!

Enjoying our older age

Los Angeles Times/Catherine Saillant and Tony Perry 6/7/12."Pension reform advocates emboldened by wins in San Jose, San Diego."

"Landslide victories on ballot measures to cut pension costs in two major California cities emboldened reform advocates, who said they expect a flurry of copycat initiatives and increased support for Gov. Jerry Brown's long-stalled push to curb the state's obligations to its employees.

England, so?

In San Jose, nearly 70% of voters Tuesday approved a plan that gives workers the choice between increasing their pension contribution to 13% of their pay, currently 5% to 11%, or switching to a lower-cost plan with reduced benefits. It also steeply cuts benefits for new hires and tightens rules for disability retirements.

In San Diego, where pension cuts already have been implemented, voters opted to eliminate pensions for new workers. By a 66% to 34% margin, voters Tuesday endorsed Proposition B, which provides newly hired city employees with a 401(k) program, but preserves traditional pensions for new police officers. Read Article.

Related  -  Orange County Register, OC Watchdog, 6/4/12, "Pension reform:  Dead until 3014 if Legislature doesn't act now?"  Graphic source information from State Controller John Chiang.

Submitted by Robert "Bob" Hutchinson

Posted by Kathy Meeh