California’s state and local pension systems are under-funded by hundreds of billions of dollars. As a result, Governor Brown properly urged in October of 2011 massive pension reforms that would help eliminate cutbacks in other state services. The Governor has not acted on any of these pension reforms. In the interim, two of California’s three largest cities, San Diego and San Jose, overwhelmingly voted in favor of the very type of multibillion dollar pension reforms raised by the governor. And due to the lack of pension forms, Stockton California just filed for bankruptcy. Recently, California Republicans in support of the San Diego and San Jose voter pension reforms, introduced legislation that is identical to the Governor’s proposed 2011 pension reforms. The NAAC supports this legislation.
We are opposing lavish pension plans for multibillion dollar executives at Sempra and So-Cal Edison in legal actions before the California Public Utilities Commission. We are urging the Public Utilities Commission to embrace Governor Brown’s 2011 pension reforms.
All Articles in this Issue:
- Crisis in Sacramento: Report on Housing, Jobs, Taxes, High Speed Rail and Pensions
- California’s New Homeowner Bill of Rights: Best in the Nation
- Governor’s Controversial Tax Initiative
- 68 Billion Dollars for the High Speed Rail that May Never Be Built
- Pension Reforms Could Assist the Public Schools, the Disabled, and the Elderly
- Asian American Empowerment