California pension initiative requires public vote on retirement benefits

2015-06-08T20:16:49-07:00June 8th, 2015|Categories: Pension Reform|Tags: , , , |

For the third time in four years, advocates for altering public pensions have a plan they want to put to a statewide vote. But this time the proposal by pension-change advocates Chuck Reed and Carl DeMaio has a new twist: Pensions and other retirement benefits would automatically become a matter of ballot-box politics by requiring voter approval any time government officials sought to upgrade benefits. It also would make “defined-contribution” plans the default retirement program for state and local [...]