The State Worker

Jon Ortiz chronicles civil-service life for California state workers

Column Extra: More detail on public pension rollbacks

04/10/2014 12:13 PM

04/10/2014 12:43 PM

Our State Worker column this week highlights a new report that concludes public employees brought in under last year’s cheaper pension formulas must work up to five years longer or save thousands of dollars each year to have the same retirement income as workers under older, more generous pension plans.

Here’s the CalPERS report that underpinned the column and a companion report that concludes lower pension benefits for new hires will pressure employers to offer better pay to recruit future workers.

The Emerging Role of Defined Contribution Plans for California Public Employees

California Public Employee Retirement Benefits— Assessing Compensation Changes

About This Blog

Jon 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 jortiz@sacbee.com or 916-321-1043. Twitter: @TheStateWorker.

 

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