Pension Reform Set For Vote
Sacramento, CA — A legislative committee has passed Governor Jerry Brown’s pension reforms on a 4-2 party-line vote. That has set up a full vote by lawmakers for Friday.
Assemblymember Kristin Olsen says “We need pension reform and it does steer us in a better direction, but at the same time we need to go back to the Governors full twelve point original pension plan which mirrors more to the private sector because the fact is we cannot afford to continue to do the benefits that have been given away.” Olsen adds “So I think this will be a first step and we will need to continue the conversation.”
The AP reports the pension overhaul designed to save billions of dollars in California’s underfunded systems drops key changes Brown had sought in hopes of avoiding a showdown with labor allies.