1350. (08-0018, Amdt. #1S) Renegotiation of Public Employee Pension Contracts. Initiative Constitutional Amendment. ADDED to Initiatives in Circulation.
1350. (08-0018, Amdt. #1S)
Renegotiation of Public Employee Pension Contracts. Initiative Constitutional Amendment.
Summary Date: 01/21/09 Circulation Deadline: 06/22/09
Signatures Required: 694,354
(Full Text)Proponent: Paul McCauley
Eliminates certain state constitutional restrictions on renegotiating public employee pension contracts. Allows vested pension benefits to be reduced for existing and prospective public-sector retirees. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Possible reduction in pension costs for state and local governments, depending on future actions by state and local governments and courts. Any such reduction likely would be largely or entirely offset by negotiated increases in other costs, such as employee salaries and wages. (08-0018, Amdt. #1S.
Past Updates:
As a PERS retiree, is this guy nuts.
ReplyDeleteWhile this may sound good, he should try to live in CA on a PERS retirement.
When I first read about McCauley's Initiative, I thought it was an email hoax. Amazingly, it's not. I receive a paltry $1100 per month from PERS after retiring early with severe illness, having brain surgery, and recoving enough to fill in the cracks with a very small self-employment income. If McCauley succeeds in robbing the retirees to feed more money into the long-dysfunctional and now depleted California State budget, he will have pushed the wrong dominoe, and I dread to think where the destruction will end. Take away vested retirement income, and where do we go from here? Do we then point to California as an example, and finally invade and destroy Social Security? After the retiree's money is gone, do you have a plan in place to assist the homeless elderly population you will have created? Do you then decide that, well, now we can't afford 911 services or ambulance services, or fire departments at all? And then what happens to the $1100 per month you steal from me? Have you proposed an initiative to require frugality in spending, or will California and all its agencies continue robbing from old men and women to continue funding waste? McCauley's proposal is the most ominous of signs I've yet seen in this financial crisis. I think I'll go look for a nice cave before they are all taken.
ReplyDeletedon't worry too much about this whack job's initiative-- it is grossly unconstitutional per the US Const.---- it will never happen---- violates the contracts clause ot the Fed Const....... it aint close......
ReplyDeleteYou have 120 characters, why not get the most info in them instead of just a link. ie: "California: Sentensed to death= Life at San Quentin" Your tweet could have said who and what for. I am a new person and look at your Tweets for info without having to track down each & every link. You have a great idea, use it!
ReplyDeleteYou have a great idea here and 120 characters, why not do a good job at it. Instead of "California: Sentenced to death= Life at San Quentin", wjo, for what, etc. I am with the news media and watch your Tweets and would love to see more without having to chase a link. Be proud of your product!
ReplyDeleteI am trying...Twiiter, feedburner, twitter mail, feedblitz, trying to integrate them all...
ReplyDeleteThank you we love all user experience comments!, Good and bad - Currently working multiple feed problems, Twitter and an Outlook email problem, all of these brought to my attention from readers...
ReplyDeleteWith thanks, Bob O