Press Releases

Union Letter to San Jose Mayor Chuck Reed

November 7, 2013

Dear Mayor Reed: 

This is in response to your letter inviting dialogue on the ballot measure you have introduced.

As you are aware, there is a retirement crisis in California.  A study released just this week noted that 42 percent of Americans say that saving money for retirement and paying their bills is not possible; 37 percent say they will never be able to afford to retire, continuing to work until they are sick or die. 

Statement of Dave Low, Chairman, Californians for Retirement Security, on CalPERS Annual Return and Impact on Mayor Reed's Pension Ballot Measure

October 22, 2013

Contact: Steven Maviglio, 916-607-8340

Pension Ballot Measure

"This strong performance is another nail in the coffin of Mayor Reed's attempt to eliminate the vested retirement benefits of teachers, firefighters, police officers and other public employees. It will be difficult for voters to believe his fuzzy math that project the sky is falling when CalPERS has regained all of its losses from the recession and has had back-to-back strong annual returns like this."

CalSTRS Statement on Proposed Pension Reform Act of 2014 Ballot Measure

October 17, 2013

WEST SACRAMENTO, CA – In response to the proposed Pension Reform Act of 2014 ballot initiative allowing employers to alter the future retirement benefits of current public employees, the California State Teachers’ Retirement System’s Chief Executive Officer Jack Ehnes, issued the following statement:

“This initiative, which raises legal concerns that CalSTRS currently is exploring, threatens the retirement security of existing and future educators, who have provided many years of service to California’s students. 

Chuck Reed's Pension Scheme: The Reaction

October 16, 2013

October 16, 2013
To: Interested Parties
From: Steven Maviglio, Californians for Retirement Security
Re: Chuck Reed's Pension Scheme: The Reaction

Pundits, state officials, academics, and other community leaders had strong reactions yesterday to a proposal by San Jose Mayor Chuck Reed and a handful of small city mayors to break the promise made to teachers, firefighters, police officers, school employees, and other public employees about their retirement. Here's a sampling:

Jack Pitney, Clarement McKenna government professor, in the Sacramento Bee: