Dan Weintraub On Moorlach's Pension Proposal

Sacramento Bee columnist Dan Weintraub devoted today's column (H/T to FlashReport.org) to the OC Board of Supes likely pursuit of legal action to scrap the retroactive portion of AOCDS members 3-at-50 pension hike:

Ever since the Legislature, former Gov. Gray Davis and local governments across California boosted pensions for public employees amid the stock market boom early in this decade, critics have been looking for ways to reduce the cost of those benefits to the taxpayers.

A rollback has always been unlikely, given the influence of public employee unions on the political process. But almost everyone seemed to agree that any changes that did occur could apply to new employees only.

Current employees and retirees who had been given higher pensions, and then made life-changing decisions based on those payments, were considered safe.

Until now.

You can read the rest of Weintraub's column here. Discuss among yourselves.

Comments

[tech is great]

so, how far will the Street investigation go? all the way up to Moorlach? 15 minutes is almost up. And the glory of the bankruptcy will fade as the cost of John's case winds thru the courts for so many wasted dollars. For all the pension complaints there have been no real disasters, just forecasts -- just like last years storms --- which never happened -- reading OCERS web site report -- they have reduced the unfunded portion, not increased it, odd that was not in the news...