The cost of defined benefit pensions for State and local workers in California has skyrockedted. In my town the cost of the police pension program has tripled in the past 2 years to over 30% of payroll. Many cities are worse.
Reform is overdue, but CalPERS has dragged their feet. Hopefully, Marj Berte will be a voice for reform, but she will face lots of resistance. Lots of luck.
The cost of defined benefit pensions for State and local workers in California has skyrockedted. In my town the cost of the police pension program has tripled in the past 2 years to over 30% of payroll. Many cities are worse.
Reform is overdue, but CalPERS has dragged their feet. Hopefully, Marj Berte will be a voice for reform, but she will face lots of resistance. Lots of luck.