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Former Los Angeles Mayor: Pension Reform or 'Disaster'
CalPensions
Aug. 27, 2012 "Retirement costs continue to climb as the deficit-ridden city, already hit by four years of deep cuts in the workforce and services, faces another major budget shortfall next fiscal year that could balloon to more than a quarter billion dollars. How unusual is the size of the growing bite taken by pensions and retiree health care costs from funds needed for other government services? In San Jose and San Diego, where voters in June approved sweeping pension reforms now opposed in the courts by public employee unions, retirement costs were about 20 percent of the general fund." MORE >> |
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