San Jose government pension reform initiative revisited in 2016

The Daily Journal/Associated Press, 3/15/14.  "San Jose mayor abandons pernsion-reform initiative."

Ignore the issue, it will go away....

....  "After losing a court fight over the legal description of his initiative, Reed said supporters will now target the 2016 ballot because they didn’t have enough time to collect signatures for this year.

.... While filing the lawsuit, Reed called the description, written by Attorney General Kamala Harris, “inaccurate and misleading” because it did not make it clear the initiative would protect pension benefits already accrued. The initiative would have allowed city, county and other governments to reduce future benefits through collective bargaining or a local vote.

Sacramento Superior Court Judge Allen Sumner rejected Reed’s challenge on Thursday."  Read article.

Related - Time Magazine, Fareed Zakaria, 6/25/12. "Why we need pension reform."  .... "The numbers are staggering. In California, total pension liabilities--the money the state is legally required to pay its public-sector retirees--are 30 times its annual budget deficit. Annual pension costs rose by 2,000% from 1999 to 2009."  Note:  The above graphic is by Oliver Munday from this Time article.

Posted by Kathy Meeh