Pension reform stalled?

10:27 PM, Aug 17, 2011   |    comments
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SACRAMENTO, CA - Five months after Gov. Jerry Brown released a detailed plan about reforming public pensions, there has been a lot of talk, but very little action on the issue at the Capitol.

That may change this week when lawmakers return from their summer recess.

Legislative leaders are considering several ways to address pension abuses and long-term financial health in the systems that pay for government worker retirement benefits.

Pension reform advocates believe change is needed quickly.

"If we don't do anything, the cost to taxpayers will be high, it could even bankrupt local communities," pension reform advocate Mike Genest said.

Genest collects a $100,000 pension from the state.

A spokesman for the governor's office said Brown is still "fine tuning" the framework developed during budget negotiations with Republican lawmakers this spring.

Talks broke down without a deal, but Brown said in March that he intended to push ahead without Republican backing, even on tough pension changes such as capping benefits and changing how teacher pensions are financed.

News10/KXTV

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