The pensions should be tiered. I’m 71 and can’t work as much due to heart attack and other illnesses. My heart attack was deemed to be job related.
There are retired employees drawing low pay who have been retired for 30 years under a lower formula and lower pension.
Then there are retired under Gay Davis big bump for cops and fire fighters which bounced the fund.
To do the same for all retirees will have serious disparate impact.
Lastly, there is no roll back or change with current employees. This needs to happen no matter what is done with retirees. Gov Brown mentions the next governor because he sat on his ass for years.
BTW Cali pays 21 billion a year in services to illegals.
So, when the state runs out of money because it didn't fund it's pensions, those who have profited so massively for so long, should be kept whole regardless of the consequences to the citizens who have to pay for the largess the public unions managed to wrangle from politicians who had no incentive to actually include actuarial standards to their negotiations? Sounds like a great deal for the retirees who helped create the system in the first place.