Unfortunately the law didn’t go far enough. We should have converted all the current employees to a 401k preserving their already earned defined benefit pension. It will take years to have a positive impact on city finances now and the city still is spending too much on pensions.
And police are exempted because...?
Here’s the kicker...
The State of California matches your 401K contributiot in 100%.
So, put in $5K, they match $5K.
What a state! What a country!