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San Jose Formally Acts to Lower Pensions for New Hires
Mercury News 
June 12, 2012 "A week after voters overwhelmingly passed a measure to cut costly city employee retirement plans, the San Jose City Council took the first step to put those intentions into action by voting Tuesday to shrink pension benefits for new city hires. Under the council's 9-1 vote with several union-backed members joining in support, new city workers except for police officers and firefighters will have to pay half the cost of their pension, which will have smaller payouts and a higher retirement age. The city is seeking reduced pensions for new cops and firefighters through arbitration." MORE >> |
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