Two major California cities approve pension reform by ballot

Jun 6th, 2012 | By | Category: Courts, Politics-Relevant;, Retirement, Unions

San Diego and San Jose are both good-size cities in the formerly great state of California.  Voters in both of those cities approved a mandatory pension reduction by considerable margins.

In San Diego fully 66 % of those voting approved Proposition B.  In San Jose, the 10th largest city in the country, 70% favored the proposition.

These measures are in for a certain legal challenge as they attack the pensions of CURRENT employees.

In addition the San Diego proposal moves all new hires except police officers into a 401(k) type pension system and imposes a six-year pay freeze on all civil service pay used to determine pensions unless the city council overrides by 2/3.

Clicking here will link to an excellent AP piece on this subject.

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