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Pension initiative tracks Utah law

Protesters picketed the recent appearance of pension-change advocates Chuck Reed and Carl DeMaio at the Reason summit. (Photo: Ed Mendel, Calpensions)

Calpensions: One of the two initiatives filed by a pension reform group last week would cap state and local government spending on retirement benefits for most new hires at 11 percent of pay, much like a Utah pension reform five years ago.

News

Pension initiative draws unions’ fire

School workers at a labor rally in Bakersfield. (Photo: Richard Thornton, Shutterstock)

A union coalition contends that a proposed initiative is being falsely portrayed as only a potential cut in pensions for new employees, when in fact it could cut or eliminate pensions earned by current employees for work done in the future. One of the initiative authors, former San Jose Mayor Chuck Reed, disagrees with the union reading of the proposal. But it’s a key pension reform issue that could lead to another disputed initiative title and summary.

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