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Governor Jerry Brown Introduces Pension Overhaul

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(Sacramento, CA)
Thursday, March 31, 2011
Brown has outlined seven measures that are ready to be introduced. They include preventing workers from purchasing extra "air-time" or service credit, as well as a ban on retroactive pension increases.  Additionally, Brown has measures that would prevent the practice known as "spiking," where some employees can artificially increase their retirement payouts.  The Governor also introduced five measures that are still "under development," including a pension cap and a hybrid option, which likely means converting some benefits to a 401K-style program.  Brown says these ideas were discussed with Republicans as they negotiated the budget.  He says he now plans to introduce them with or without GOP support.
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