Wednesday, August 29, 2012

More Details Emerge About Pension Deal

Yesterday, Governor Brown and legislative leaders announced a sweeping deal to alter pension benefits.  The full text of the bill, AB 340, is now available.  The Legislature will vote on the 60-page bill Friday.

Statewide public safety groups have been critical of the bill.  PORAC President Ron Cottingham noted, "This attack on middle class families, including public safety employees, is unacceptable."  CPF President Lou Paulson stated, "these proposals go far beyond “reform”. Instead they threaten basic retirement security for generations of front line first responders and their families."