Read Jerry Brown’s letter calling for CalPERS to immediately raise employer contribution rates
02/05/2014 3:29 PM
02/05/2014 4:07 PM
Gov. Jerry Brown, citing statistics showing that government employees are living longer and driving up pension costs, has challenged CalPERS to increase employers’ contributions to the fund instead of following a staff recommendation to delay raising rates for two years. Waiting, he says, merely adds to the fund’s debt.
(Worth noting: Brown’s 2014-15 budget proposal puts off addressing the teachers’ retirement system’s growing unfunded liabilities until 2015-16.)
About This BlogJon Ortiz launched The State Worker blog in 2008 to cover state government from the perspective of California government employees. Every day he filters the news through a single question: "What does this mean for state workers?" Join Ortiz for updates and debate on state pay, benefits, pensions, contracts and jobs. Contact him at firstname.lastname@example.org or 916-321-1043. Twitter: @TheStateWorker.
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