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With November Measure Off The Table, What’s Next For Pensions?

Aired 2/10/12 on KPBS News.

Now that backers of a major pension overhaul have ended their attempt to qualify a November ballot measure, any changes to California's public employee retirement system this year will have to come from the Democratic-controlled legislature.

Now that backers of a major pension overhaul have ended their attempt to qualify a November ballot measure, any changes to California's public employee retirement system this year will have to come from the Democratic-controlled legislature.

That's a big concern to Republican State Senator Mimi Walters who said, "I think that that will take pressure off of the legislature to move forward on real, comprehensive pension reform."

Senate President Darrell Steinberg insists Democrats will address even the most controversial elements of Governor Jerry Brown's 12-point proposal. Steinberg said, "We think we can deal with the hybrid issue. We think we can deal with the retirement age issue. And we're gonna move forward and get that job done," but not necessarily in the exact way the governor suggests. For example, Steinberg said, there are different ways to structure a "hybrid" pension system.

The Senate President says he expects to send legislation to the governor by the time lawmakers pass a budget in June.

Comments

Avatar for user 'HarryStreet'

HarryStreet | February 10, 2012 at 9:38 a.m. ― 2 years, 5 months ago

Until we get rid of pensions for cops and firemen and politicians we'll always be deeper in the red. Their service does not justify pensions paid by the taxpayer. Look at the men and women who serve in the military. Should we provide them with same type pensions? Do you have any idea how this looks?

I'll serve to protect so long as you give me this big pension? Why put a price tag on serving the people?

Get a 401k like everyone else. Invest in Growth funds and open an IRA. We all do.

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