For Immediate Release

Statement of Dave Low, Chairman, Californians for Retirement Security, on today's pension bill signing:

"The Governor's signature on this legislation represents a giant step backward for retirement security for California's aging workforce. While we support elements of the package that end pension spiking and other abuses of the system, the new law slashes benefits to pre-Reagan levels with an end-run around collective bargaining. The increase in retirement age will likely result in an increase in workers comp and disability benefits, and will make it increasingly difficult to attract a quality public workers to serve Californians."