October, 2011

The pension reform plan I am proposing will apply to all California state, local, school and other public employers, new public employees, and current employees as legally permissible.

… PENSION REFORM ON THE HORIZON

As the first year of the 2011-12 legislative session came to an end in September, many of the pension/compensation reform bills introduced were held (such as significant reform bills like SB 27 – Simitian)

Legislative leaders have named six lawmakers to a joint committee that will hold hearings on changes to public employee pension systems.

Turmoil in Europe, the sluggish economy and low interest rates are intensifying pressure on public pension-fund systems to reduce the annual-performance assumptions they use to determine contributions from taxpayers and employees.

Solano County has made many efforts to reduce its budget deficit since 2009-2010, including offering two previous early retirement incentives, eliminating 302 vacant positions and laying off an additional 207 employees.  But the budget deficit persisted.

The County reviewed several