One of the propositions is not popular (don't recall the number) - has to do with State confiscation of civil service pension funds that were NOT funded by taxpayer monies. Through sound investments of employees' contributions to their own accounts, over many, many years, L.A. County Employees' Union pension funds are worth trillions of dollars now.
Other counties, such as Ventura, used the same system. The ones who didn't, such as San Diego, are bankrupt.
Arnold and Company need to understand this is not their money to use to solve California's idiotic welfare system that inept, spendthrift, and downright dishonest legislators created
I'm not sure to which proposition you are refering. I already voted Yes on all of them. With regard to this statement let me say this, "too bad, cry me a river". First off, I don't believe your statement.
But if true, let them take UNION members pension money and use it for all others kinds of acivities, I could care less. Why? Because they never cared anything at all when they pciked it out of my pocket to begin with. I guess the unions are discovering that after time the same techniques they used to pillage money from the taxpayers get turned around and used against them. Too bad, its long overdue.
Also, all of their pension money was suppied by the taxpayer to begin with. It was our money, not theirs. Most of which got spent and funneled through organizations I could do without, or could do with a whole lot less of.
If these funds are for defined benefit pensions, the state can take them. If they are defined contribution pensions, it should be hands off.
Basically, regardless of how well or badly the pension funds were invested, the state is on the hook to pay pensions in a defined benefit plan. The state gets to keep the surplus or is responsible for the deficit.
In a defined benefit plan, the union does not get to have it both ways, that is get the defined benefit regardless of a shortfall, or receive the defined benefit plus the surplus in case of a windfall.