Thursday
May 17th
| Pension Reform Continues to Top Headlines |
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 Last Wednesday, California Pension Reform, headed by Dan Pellissier, announced that it was suspending its campaign to put public employee pension reform on the November 2012 ballot after determining the title and summary issued by the Attorney General made the initiatives nearly impossible to pass.
The group had submitted two measures that qualified for signature gathering. One would have placed public employees into defined contribution plans, while the other would have created a hybrid plan that blends pensions with a 401(k)-style system. California Pension Reform reaffirmed its commitment to moving forward with the initiative proposals but will now turn its focus to qualifying the measures for the November 2014 ballot.In response to the announcement that California Pension Reform will not move forward with efforts to place initiatives on the 2012 ballot, Senate President pro Tem Darrell Steinberg took the opportunity to reiterate his pledge saying, “We are committed to getting pension reform done,” even specifying his commitment to passing pension reform before adoption of a state budget this year. Senator Steinberg said that he intends to address all 12 points from Governor Jerry Brown’s pension reform plan, although he also specified that not every point will be addressed as the governor suggests, speaking to the controversial hybrid issue. Lastly, the Conference Committee on Public Employee Pensions has scheduled its fourth hearing for Tuesday, February 28 at 9:30 a.m. Room 4203 of the State Capitol. The subject is: Examining the Impact of Increasing Normal Retirement Age. For more information regarding public employee pension reform, please visit CSDA’s Grassroots Action Center. |
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