Latest Press Releases

Dave Low: Reed's state pension reform measure would be financial disaster

By Dave Low
 

Backers of an effort to slash the retirement of public servants got a stiff dose of reality this month when leaders of the state's top public investment funds raised red flags about the plan that could be headed for the 2016 ballot.

They said the latest proposal on public pensions from former San Diego Councilman Carl DeMaio and former San Jose Mayor Chuck Reed would undermine decades of labor law and collective bargaining precedent and threaten retirement security for tens of thousands of working families.

Why Pension Measure is in Trouble

by Steven Maviglio
August 17, 2015

To no one’s surprise, the backers of the measure to slash retirement security for millions of California’s public servants are squealing about the title and summary issued by Attorney General Kamala Harris last week.

Reed described it as “inaccurate and misleading.” Which is nearly identical what he said two years ago when Harris issued a similar review of the initiative. (Reed challenged the Attorney General in Court during the last go-round. He lost.)

Count the bad ideas in California pension overhaul proposal

by Michael Hiltzik, Los Angeles Times

Along with taxation and immigration, one political issue that never seems to go away is the cost of public employees, especially their pensions.

Public retirement plans are consistently blamed for local and state budget woes. Any time a community runs into fiscal trouble, its workers are among the first to be demonized, and often bear the brunt of the remedies. After all, pension obligations are typically among the largest liabilities any government entity must bear, so why not hack away?

Statement of Dave Low, Chairman, Californians for Retirement Security, on Attorney General's Title & Summary of DeMaio/Reed Pension Measure

We strongly disagree with the Attorney General's elimination of the specific mention of teachers, nurses, police and firefighters in the title and summary. They are the bulk of the public servants whose retirement security and death and disability benefits would be abolished by this heavy-handed measure. The inclusion of these professions in a previous version of this measure had already passed legal muster, even after multiple appeals by Chuck Reed.

CalPERS to Bonta: DeMaio/Reed Pension Measure Would Eliminate Retirement Security for Both Existing and Future Public Servants

SACRAMENTO - The proposed ballot measure authored by former San Diego City Council member Carl DeMaio and former San Jose Mayor Chuck Reed would eliminate constitutional protections for the retirement security of both existing and future public servants, according to a letter to Assemblymember Rob Bonta (D-Oakland), Chair of the California Assembly's Committee on Public Employees, Retirement, and Social Security.

CalPERS CEO says pension proposal full of problems

By Jon Ortiz, Sacramento Bee 

A proposed ballot measure that would make future pension benefits subject to voter approval is fraught with legal and administrative peril, according to a letter from CalPERS’ chief executive officer, eliciting a response from one of the measure’s proponents that the assessment is a “lie.”

Bonta: CalSTRS Says Pension Ballot Measure Would Negatively Impact Teacher Retirement Security, Stability of Pension Fund, Increase State Costs

SACRAMENTO - The retirement security of California's retired, current, and future teachers and the stability of the state's pension fund for educators would be put at risk if a ballot measure addressing those issues is approved by California voters next November, according to an internal analysis by CalSTRS, requested by and released by Assemblymember Rob Bonta (D-Oakland), Chairman of the Assembly's Committee on Public Employees, Retirement, and Social Security.

LAO Deals a Blow to Pension Measure’s Chances

By Steven Maviglio, Fox & Hounds
July 29, 2015

The Legislative Analysts Office may have dealt the death knell to an effort to slash the retirement security of California’s teachers, firefighters, peace officers, bus drivers and other public employees this week with a candid assessment of its impact.