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January 19, 2016

Legislative Update – News

No Pension Cut Initiatives
this November

Proponents of the two pension cut initiatives have come up short on funding so they’ve pulled both measures until 2018. Here’s their press release:

Statement from former San Diego City Councilmember Carl DeMaio (R) and former San Jose Mayor Chuck Reed (D)

“After conversations with members of their coalition and key donors, we have decided to re-file at least one of our pension reform measures later this year for the November 2018 ballot. By then we will know the outcome of a key court case that might limit the public employee unions’ capacity to spend ‘unlimited’ resources against pension reform.”

“Every year we delay serious pension reform public employers make more unsustainable promises to new employees and public retirement debts grow. We need pension reform to protect our education system and vital public services from these fast growing burdens. Although our polling today shows continued strong public support for pension reform, we believe 2018 will provide an even better environment for substantial reform as rising retirement costs further squeeze their schools and local agencies budgets.”

CalRTA will closely monitor future activity on this issue and will be prepared to fight any attempt to threaten the retirement security of educators.

Here are media links to this story:

~ The Sacramento Bee (January 18, 2016)
Measure to curb California public pensions is pulled – for now

~ California Healthline (January 19, 2016)
Backers of California Pension Reform Drop 2016 Ballot Initiatives

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