Pension Legislation (AB 340) a "Political Overreaction"

August 31, 2012

For Immediate Release

Californians for Retirement Security Statement on Pension Legislation (AB 340)

Following is a statement from Dave Low, chairman of Californians for Retirement Security, a coalition representing 1.5 million public employees and retirees.

“The Legislature and Governor are about to enact into law a political overreaction on pensions that is a direct hit on the retirement security of police, firefighters, teachers, and other public employees. Ripping billions of dollars of pension benefits from public workers without collective bargaining is unfair and wrong. Wall Street interests who caused the economic crisis and are now calling for unconstitutional and illegal actions should take stock of their victory before attempting to further undermine retirement security for public workers."