By @Aaron Avery
On March 14, CSDA along with the California State Association of Counties (CSAC), and League of California Cities (Cal Cities), jointly submitted a request to the Board of Administration (Board) of the California Public Employees’ Retirement System (CalPERS) requesting the Board adopt an oppose position on Initiative 1935 (filed as Initiative 21-0042A1), which opponents have dubbed the “Taxpayer Deception Act.”
The local government coalition letter can be viewed here.
The coalition contends that opposing the initiative is consistent with CalPERS’ fiduciary responsibility to protect the solvency of the pension fund because the initiative is a direct attack on governments’ ability to meet their obligations and provide the essential services communities rely on. If passed, the initiative will destabilize state and local governments’ budgets and related financing which underpin their ability to satisfy all manner of contractual obligations, including pensions and others fundamental to maintaining frontline workers and the communities they serve.
The CalPERS Board will consider adopting a position on the initiative at its March 20 Board meeting, which begins at 9:00 a.m. Additional information about the agenda item (Item 8c) can be viewed here.
CSDA anticipates making public comments at the Board meeting in connection with its request that the Board adopt an oppose position on the initiative. Special districts interested in making public comments may do so in-person or over the telephone. A live stream link will be available. Additional information can be viewed here.
***CSDA CALL TO ACTION***
CSDA calls upon all members to join the more than 100 special districts and 200 cities that have already passed a board resolution in opposition to Initiative 1935.
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