Posted on 08/28/2012 11:42:31 AM PDT by SmithL
Gov. Jerry Brown and state lawmakers have reached a deal that will alter pensions for hundreds of thousand of local and state workers.
Brown will announce an agreement that promises future employees less and requires many of them to pay more for it than their tenured colleagues, according to details of the plan leaking out this morning.
Brown is scheduled to talk about pension reform tat an 11:30 a.m. Los Angeles press conference. The Democratic governor made cutting public pension costs a key piece of his administrative agenda and has insisted that voters insist on reform before they'll embrace a tax hike on the November ballot that Brown is backing.
Here are the components of the agreement reached between state lawmakers and Brown, according to sources familiar with the agreement. The terms would begin to take effect Jan. 1.:
• As reported Monday, the salary of future hires that will be considered for pension purposes will be capped. The ceilings: $110,000 for employees who participate in Social Security and $130,000 for those who don't, such as fire fighters, police and teachers.
• Brown's proposal to put new hires in hybrid pension plans won't happen. Instead, the pension formulas for new hires -- both safety workers such as police and firefighters and miscellaneous employees -- will be rolled back.
• New employees will pay half of their normal pension costs. Employers would still have to bargain contribution rates for current employees.
(Excerpt) Read more at blogs.sacbee.com ...
Wow, I love how the d!ckhead CA hippy baby boomers screwed over the younger generation:
Lets make a plan that gives us a sh!tload of money, then “fix it” and screw over the Gen X’ers.
Did the greatest generation give us the worst generation?
Same thing will happen with any govt funded program, when population ages, too many people will be sucking on the system while too few are paying in. FDR was an idiot!
Nonsense, they'll get "vouchers". ;-)
Figures.
You got it right!
Yes. And that’s Governor Moonbeam to you bud. ;^)
Yessir!
Thanks. After seeing it play out like this for decades, it was fairly obvious.
The only difference now that Schwarzenegger is gone, is that all this isn’t being done in my name any longer. A Democrat is doing it.
The funny thing is, that’s essentially the only bright side of Obama’s term in office. At least the crap was being implemented by my avowed political enemy.
Of course that infers the premise Bush wasn’t my avowed political enemy. And sadly, he actually was.
Can’t wait to have our team bending Conservatives over the barrel starting next year. Good grief...
All the while, folks will be defending him. God this sucks.
It certainly DOES!
As for California, it saddens me no end to see what the RINOS, and the left have done to it. I remember when I moved to L.A. in the fall of 1976. To me California was heaven on earth. Now it is bankrupt, and we have to press 1 for English.
Agreed, and California’s leadership has really screwed up. Californians who voted them in did too.
California hasn’t been responsible for all of it though.
Refugees from other nations, moving into the state with the State Department’s blessing sure hasn’t helped.
The government pulling a massive number of bases and their support structures out of the state heavily impacted the presence of right of center voters too.
Yes. All of the things you mention contributed to it.
There are still millions of conservatives in California. The left just overtook us with all of the foreign immigrants, and east coast liberal transplants.
And they need to leave. Because it's only going to get worse. The Democrat supermajority in state government will be an epic failure, yet essentially no way to vote it out.
And not to be forgotten, California has been surrendered by the GOPe. What’s it been, 24 years since California was contested?
Imagine you’re trying to get to 273 electoral votes, and you opt to surrender California to you opponent. Simply amazing.
And then you lament the loss of the state?
While these Republican brain trusts are pooling the few cells they have left, they may want to consider that California is the model, of what takes place once you flood a state with illegal immigrants.
And they want to be the illegal’s best friend. Ouy...
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