Pension Reform Initiative - Here we go again!
(10/19/13) San Jose Mayor Chuck Reed and leaders of four other California cities struggling with soaring retirement costs announced Tuesday they will seek to get a pension reform initiative on the November 2014 state ballot.
San Bernardino Mayor Pat Morris, Santa Ana Mayor Miguel Pulido, Anaheim Mayor Tom Tait and Pacific Grove Mayor Bill Kampe joined Reed in submitting the ballot initiative to the state Attorney General.
“It will allow public employers to unilaterally cut the retirement benefits promised to current teachers, firefighters, police officers and school bus drivers," said Dave Low, chairman of Californians for Retirement Security, which represents some 1.6 million current and retired public employees.
Once the Attorney General provides the official title and summary, proponents would have 150 days to collect at least 807,615 valid signatures, representing eight percent of the votes cast in last gubernatorial election.
STRS and other organizations are exploring the legality of changing the retirement promises made to current public employees.