Future employee retirement rework flops

Apr 23rd, 2013 | By | Category: Budget, Retirement

BudgetEgg[1],jpgSB744 would have, if passed, rework retirement for state civil service workers hired on or after 01-01-15.  Future employees would have had to work for 15 years to get 50% payment of their retiree healthcare costs and 25 years to get 100% coverage.  Currently you 50% coverage at 10 years and 100% coverage at 20 years.

The proposal by Mimi Walters, R-Irvine, went down on a 3-2 party line vote in the Senate Public Employment and Retirement Committee.  It had significant union opposition.

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