Posts Tagged: pension systems
Gov. Jerry Brown discusses public pension issues at a Capitol budget briefing for reporters. (Photo: AP/Rich Pendroncelli, via calpensions.com)
Gov. Brown leaves office next week with a smaller cost-cutting pension reform than he wanted. But after he’s gone, union challenges to minor parts of his reform pending in the state Supreme Court may open the door to big changes. The main parts of Brown’s reform add several years to retirement ages and make some employees pay more for their pensions.
Photo illustration of a nest egg. (Photo: Hidesy, via Shutterstock)
If you don’t give city employees a pension, what happens? San Diegans voted five years ago this month to switch all new city hires, except police, from pensions to 401(k)-style individual investment plans, becoming one of the first big cities to take the plunge.