Summary
With California facing $115 billion in unfunded pension liabilities, Inland Valley legislators want something done about it, but they disagree on steps to sustainability.
Last week's report by the Little Hoover Commission, a bipartisan watchdog group, recommended giving state and local governments the authority to restructure future, unearned retirement benefits for their employees - a right enjoyed by employers in the private sector.See the full content of this document
Extract
Pension Reform Back On Agenda
The commission called for "freezing earned pension benefits and re-setting pension formulas at a more realistic level going forward for current employees (that) would allow governments to reduce their overall liabilities."
The commission's findings have garnered support from local GOP lawmakers."...See the full content of this document
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