Live from the State Capitol, Part 2: Public pensions in the news
Published on January 7th 2012
CalPensions: "Pension initiatives: could costs go up not down?"
"An official analysis of two public pension reform initiatives last week raised an issue quickly seized by opponents -- a potential cost increase of $1 billion or more a year for state and local governments during the next two or three decades. ...
The analysis by the Legislative Analyst's Office "makes the point that switching new hires to cheaper retirement plans can drive up costs, mainly by cutting the cash flow used to help pay pensions under the old plan."
Sac Bee: "The State Worker's Top 10 of 2011: No. 6 -- Niello's pension plan"
Sac Bee: "The State Worker's Top 10 of 2011: No. 5 -- GOP pension plan"
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Comments
The government should make a pooled pension system to encourage the people to prepare for their retirement. This is a challenge for the government to sell whatever their plans to the pension system to the people. Somehow, the pension reform has been a good deal for the public workers thought the unions think otherwise.