We’ll be talking to Former San Jose Mayor, Chuck Reed, a Democrat about reigning in Gov’t union pensions, which have bankrupted city after city after city.
Former San Jose Mayor Chuck Reed joined a handful of other city officials Thursday in announcing a statewide initiative that would require voters to approve traditional pensions for new government hires or increases in retirement plans for current workers.
If the proposed “Voter Empowerment Act” qualifies for the ballot and voters approve it in November 2016, cities across California would need voter approval to continue offering pensions beyond 2019. Otherwise, they would have to offer new employees 401(k)-style plans like those available from private employers.
The initiative also would require voter approval for government employers to pay more than half of the total cost of retirement benefits. And it would prohibit government officials from challenging any voter-approved state or local ballot measures regarding compensation and retirement benefits.
http://www.mercurynews.com/bay-area-news/ci_28251143/former-san-jose-mayor-chuck-reed-introduce-state
