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Group to Push for Alternative Pension Plan

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(Sacramento, CA)
Wednesday, November 2, 2011

Dan Pellissier with California Pension Reform says his organization is filing two initiative proposals with the state Attorney General.  He says either plan would do more to curb costs and liabilities than the plan announced by Governor Jerry Brown last week.

Pellissier: "Our plan would promptly save in the, you know, five, six, seven billion dollar range for state and local governments.  We think that's very important as those savings are needed right away to restore essential services."

Pellissier says either of his group's plans would better address the problem of unfunded public pension liability.

The group will decide in January which measure it will circulate for signatures.

The public-employee backed group Californians for Retirement Security says today's announcement is "politically motivated."

Governor Jerry Brown's office says his plan is "solid" and the "most realistic" for achieving significant pension reform.

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