Sacramento -- San Jose Mayor Chuck Reed's measure to slash the retirement benefits of current teachers, firefighters, police officers, school employees has lost the support of a key Democratic mayor and is experiencing other major setbacks even before it has received its title and summary from the California Attorney General's Office.
Dear Mayor Reed:
This is in response to your letter inviting dialogue on the ballot measure you have introduced.
As you are aware, there is a retirement crisis in California. A study released just this week noted that 42 percent of Americans say that saving money for retirement and paying their bills is not possible; 37 percent say they will never be able to afford to retire, continuing to work until they are sick or die.
Contact: Steven Maviglio, 916-607-8340
Pension Ballot Measure
"This strong performance is another nail in the coffin of Mayor Reed's attempt to eliminate the vested retirement benefits of teachers, firefighters, police officers and other public employees. It will be difficult for voters to believe his fuzzy math that project the sky is falling when CalPERS has regained all of its losses from the recession and has had back-to-back strong annual returns like this."
Sacramento, CA – The California Public Employees’ Retirement System (CalPERS) issued the following statement in response to a statewide ballot initiative proposal filed today:
WEST SACRAMENTO, CA – In response to the proposed Pension Reform Act of 2014 ballot initiative allowing employers to alter the future retirement benefits of current public employees, the California State Teachers’ Retirement System’s Chief Executive Officer Jack Ehnes, issued the following statement:
“This initiative, which raises legal concerns that CalSTRS currently is exploring, threatens the retirement security of existing and future educators, who have provided many years of service to California’s students.
To: Interested Parties
From: Steven Maviglio, Californians for Retirement Security
Re: Is a Texas Enron Billionaire Funding Chuck Reed's Pension Ballot Measure?
FOR IMMEDIATE RELEASE
OCTOBER 17, 2013
CONTACT:
CLARK LEE
909.702.5809
clarklee@lacdp.org This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Los Angeles County Democratic Party Statement Regarding the Proposed Initiative Attack on Public Employees
Contact: Steven Maviglio, 916-607-8340
Contact: Steven Maviglio, 916-607-8340
Statement on San Jose Pension Decision by Dave Low, Chairman, Californians for Retirement Security
October 16, 2013
To: Interested Parties
From: Steven Maviglio, Californians for Retirement Security
Re: Chuck Reed's Pension Scheme: The Reaction
Pundits, state officials, academics, and other community leaders had strong reactions yesterday to a proposal by San Jose Mayor Chuck Reed and a handful of small city mayors to break the promise made to teachers, firefighters, police officers, school employees, and other public employees about their retirement. Here's a sampling:
Jack Pitney, Clarement McKenna government professor, in the Sacramento Bee:
