CalPERS CEO says pension proposal full of problems

2015-08-07T17:17:30-07:00August 7th, 2015|Categories: Pension Reform|Tags: , , , |

A proposed ballot measure that would make future pension benefits subject to voter approval is fraught with legal and administrative peril, according to a letter from CalPERS’ chief executive officer, eliciting a response from one of the measure’s proponents that the assessment is a “lie.” The measure filed by former San Diego councilman Carl DeMaio and former San Jose Mayor Chuck Reed would constitutionally require voter approval for future retirement-benefit increases. Employees hired on Jan. 2019 and later would [...]