Mayors of five California cities have filed papers with the state to place an initiative on next year’s ballot that would amend the state’s constitution to allow local governments to negotiate changes in pension benefits for current and future employees.
Dan Pellissier, president of the group California Pension Reform, contends L.A. may be just a few years away from becoming unable to repay its debts if costs aren’t kept down.
As the race for the new mayor of Los Angeles heats up, both candidates received big endorsements from local groups on Tuesday.
The bulk of the projected savings in the pension-reform deal announced by Gov. Jerry Brown won’t be felt for decades because most of the proposed changes will affect employees who have yet to be hired.
Gov. Jerry Brown announced a “historic pension reform agreement” Tuesday that will cap pensions and raise employee contributions and the retirement age.
Brown took a break from his statewide budget crisis tour this weekend and sat down with CBS 2/KCAL 9 political reporter Dave Bryan for a no-holds-barred interview.