GOP Lawmaker Pushing For Pension Reform
Sacramento, CA — A bill would require a vote of the public anytime a government entity decides to increase pension benefits paid to workers.
Republican Assemblyman Bill Brough of Southern California argues that California’s unfunded pension debt is approaching half a trillion dollars, and without big changes, governments will be forced to cut benefits, raise taxes, or slash services. His proposed bill, the California Pension Protection Act, would specifically require voter approval to establish new pension plans, enhance pension benefits, or for governments to pay more than ½ the cost of pension benefits. It would impact local entities like city and county governments, school districts, etc.
Brough says, “If we are going to save our pension system, we are in need of some serious reform. This option, we think, puts people in charge, over politicians like me.”
He indicates that the bill is designed to protect the current pension promises already in place, but to slow the growth of new benefits moving forward.