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California Shows Way Through Tricky Pension Mess
Reuters Link to more items from this source
[Opinion]
June 11, 2012

"Since the downturn, new hires have borne the brunt of belt-tightening in the nation's public sector. They, not their elder cubicle mates, have had to swallow diminished expectations for their golden years. This unfair two-tier system is likely to further discourage the young and talented from considering a career in the civil service. In addition, such marginal reform won't be enough over the long term to fill a $700 billion shortfall in America's public pension system. A better approach is burden sharing -- something San Jose and San Diego are trying to push through."

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