Posted on 06/30/2004 9:04:07 PM PDT by NormsRevenge
Assemblyman Keith Richman studied public employee pensions for a year so that he could propose changes to a system he believed was broken. In the end, he decided against writing legislation.
Lawmakers and local government officials simply have no appetite for facing a looming crisis, the Northridge Republican concluded.
With the state searching for a way out of its chronic fiscal malaise, government pensions have begun to attract some attention. It's clear, however, that changes in the state's massive pension system won't come easily.
Last week, an Assembly committee killed a bill that would have stopped about 3,000 state workers from getting enhanced public safety pensions.
New bills are being considered, meanwhile, that could result in even better benefits.
(Excerpt) Read more at sacbee.com ...
I don't know if I would like to have my pension cut if I have earned it.....
but that said, there has to be a way to tinker with the system that would make it work as well...
There is a way, and it is very, very simple. Pensions aren't "earned" except by working while a particular pension formula is in effect. This means the formula applicable to future service can be reduced without violating any vesting rules as long as the final pension calculation uses the higher formula for the time period worked under that formula.
Outsource.
I can tell you that in County government, it was negotiated increases in pensions, benefits and salaries that caused most of the revenue vs. expediture gap this year. Revenues are flat lining and the other is escalating. After several years of this and cutting travel, equipment, filling vacancies and other budget line items, cuts now have to be taken by eliminating personnel.
I've never understood why State workers were given the right to be represented by collective bargaining agents. Unlike the private sector, the Unions have the "power" edge (if a strike cuts, say, Shell Oil's gasoline production, consumers simply go to Chevron; if government employees strike, there is no alternate service provider out there).
Why mess with pensions when the State can contract out the work?
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