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Economy

Group to Push for Alternative Pension Plan

Group to Push for Alternative Pension Plan
A group pushing for changes to California public pension law is hoping to put an initiative before voters next year.

A group pushing for changes to California public pension law is hoping to put an initiative before voters next year. Dan Pellissier with California Pension Reform said his organization is filing two initiative proposals with the state Attorney General. He said either plan would do more to curb costs and liabilities than the plan announced by Governor Jerry Brown last week.

“Our plan would promptly save in the, you know, five, six, seven billion dollar range for state and local governments," said Pellissier. "We think that’s very important as those savings are needed right away to restore essential services."

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Pellissier also said either of his group’s plans would better address the problem of unfunded public pension liability.

The group will decide in January which measure it will circulate for signatures.

The public-employee backed group Californians for Retirement Security claimed today’s announcement is “politically motivated.”