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California Lawmakers Send Pension Reform Deal To Governor

The Senate and Assembly each spent more than an hour debating a plan that's been in the making for more than a year. It would make major changes to the state's under-funded pension system by increasing retirement ages, capping salaries on which pensions can be based, and ending abuses. Democratic Assembly member Warren Furutani authored the legislation.

"This is good public policy," said Furutani. "It's something that's getting us way down the road, it's not the end-all be-all, those of you that are going to be here next year are going to have more work to do I urge an aye vote."

But Republicans like Assembly Member Jim Nielsen complained that the legislation doesn't go far enough and was hastily drafted.

"This is the legislature at its worst, last minute scrambling around on a major, major issue," said Nielsen.

Some GOP lawmakers voted yes anyway. Others voted no or abstained.

Comments

Avatar for user 'HarryStreet'

HarryStreet | September 4, 2012 at 5:18 p.m. ― 2 years, 2 months ago

The police pensions still should be brought into the fold. Their retirement packages are far too generous than what we can afford. And no one should think they're being ripped off. I've been in 401k since the 90's and seen my savings grow. It's not as bad as people think. The problem for some is that it's not as generous as pensions funded by taxpayer dollars. Go figure.

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