Pension proposals "deeply flawed and deserve public scrutiny"

July 3, 2012

For Immediate Release
Tuesday, July 3, 2012
Californians for Retirement Security
Californians for Retirement Security Statement on Pension Negotiations

Dave Low, Chairman of Californians for Retirement Security:

"Both the Legislative and Governor's proposals are deeply flawed and deserve public scrutiny that the next few weeks will allow. The Legislature should heed the advice of the Legislative Analyst’s Office, which urged lawmakers to take the time to properly scrutinize the Governor's proposals and get the details right. We are optimistic that the Governor and Legislature can reach agreement on a plan to curb abuses in the pension system without undermining retirement security for millions of Californians."

FYI from LAO review of Governor's proposals on November 8:

The LAO made it clear: “The Legislature should take a few months to get the details right.”

 “…with several thousand public employers and many different pension and retiree health packages offered to public employees, it is very difficult to fashion a workable, fair, sustainable set of legislative provisions that accomplishes the type of changes envisioned by the Governor. We strongly urge the Legislature to take several months to fashion a pension plan in response to the Governor’s proposals.”