Tagged: pension reform

(Sacramento Bee) // Just after it was revealed that California faces a budget deficit of $16 billion, how and when to pay crippling pension costs has become a major public debate. The California Public Employees' Retirement System voted to raise the annual state payment for state worker pensions by $213 million to a total of $3.7 billion, despite Governor Jerry Brown’s recommendation for an even bigger increase to avoid accruing more debt.

A new report from the legislative analyst's office shows California will have to pay more than $700 million a year to cover costs on nearly $10 billion in high speed rail bonds...