Pension Reform Initiative Seeks Signatures For November Ballot

The initiative would require all public employees to pay at least half of their pension plan’s defined benefits.

Backers of an initiative that would reduce the cost of public employee pensions were given approval today to begin gathering signatures by Secretary of State Debra Bowen.

The initiative would require all current and future public employees to annually pay at least half of the projected costs of their pension plan's defined benefits; hybrid pension plans for new employees, composed of defined benefits, defined contribution and Social Security; raise the minimum retirement age for future law enforcement officers and firefighters to 52 and 57 for other public employees; and require 15 years service for new state employees to receive any retirement health benefits.

Valid signatures from 807,615 registered voters -- 8 percent of the total votes cast for governor in the 2010 general election -- must be submitted by Oct. 4 to qualify the measure for the ballot.

Glendora has prided itself on being on the forefront of what city officials called progressive pension reform, requiring employees to take on their share of employee contributions.

The reforms have, according to numbers released earlier this year.

chuck wagon May 09, 2012 at 08:07 PM
Heck Yes I have to


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