California Pension Reforms
Sacramento, CA — Governor Jerry Brown plans to release details Thursday about his plan to reform the state’s public employee pension system.
Brown made the announcement in a written letter to lawmakers. “Given the paramount and importance of pensions to both taxpayers and public employees, it is absolutely critical that we carefully examine our current assumptions and practices,” says Brown. “We have to do our best to make sure that we have a system that is fair and truly sustainable over the long time horizon that our pension and health systems require.”
Brown did not indicate in his letter what the proposal will entail. He previously indicated that some of his pension reform plans could require a vote of the people.