Sacramento, California (AP) -- last Friday, the state legislature passed the package California public employees of pension system, it is for taxpayers save billions of dollars in change, and even the republican senators said more needs to be done to repair a lot of debt.
The main pension act, AB340, through in the assembly and in the state senate 38-1 49-8. The governor jerry brown negotiations with the legislative council reform of the democratic leadership.
The legislative council increase new employee retirement age, upper limit annual spending in 132120 us dollars, eliminate many system defects, and require no longer encourage their retirement pay more than half the cost of workers.
Brown said he supported legislation, even if it belongs to offer him the last October, 12 point reform Suggestions.
"This is the most profound endowment insurance reform in California history," he told reporters, before the final vote on legislation.
And he said, bag is a difficult compromises have many "controversial party."
Congress vote, even if the companion legislation crowds the touch off bill, the bill of the last day of the legislative session, the key repair.
Some republican congressmen complain that the process was sent to tend to postpone a vote, until the fixed drafting error. But some republican lawmakers voted, and legislation also need to do more work to solve funds unsettled public pension liabilities is about 165 billion in the country's two main system.
"We have what is in front of us pension reform, but a pension change, Mimi walters said:" senator, republican from orange county forest lake community. "Although today I support this measure, this is my hope, we vote today will begin to realize real reform, and take the challenges, our capital unsettled pension liabilities.
She and other republicans have also pointed out that, without any change in the country's constitution embodies, this means that they can change the future legislative council by majority vote.
Brown announced this week that pension bag, 10 months later, he issued a more comprehensive reform proposal, has been far beyond approved method (Friday).
Negotiation is the basis of support brown's November election suggest temporarily increase sales tax and high earners to tax, public employees union firmly opposed.
Although some union leaders expressed frustration over the last act, the Democrats appease their labor Allies to eliminate one of the most important elements of brown original Suggestions, such as carrying out a hybrid pension plans, will include a 401 (K) style saving vehicles.
Republican Congressman Jim nelson said, the bill is an example, "the legislature in its worst: the last minute disturbance major, the main problem.
"The governor signed, and say," we have done a pension reform. Hooray! Now support plus tax. "I think, this is only provided more reason why not raise taxes, legislation," nelson said, to spend their own money in this way.
The state's pension funds, California public employees retirement system pension plans, is expected to save more than 30 years of system between $4.2 billion - $55 dollars. Lawmakers were told, California state teachers retirement system, teachers system will save an estimated $1.2 billion more than 30 years, but it is still in the analysis.
Republicans say, suggest shovel ball only a small part of the country and the local government pension liability.
Some democratic congressmen closely cooperate with labor against legislation, he said it might be the first step in the collective bargain rights.
"This is a smooth slope," said swanson, democratic Congressman Sandre, who opposed to the bill.
Brown rejected the argument, and points out that, some also through the legislation procedure regulation, greatly expand public employee pensions.
Even so, packet drop brown's advice. In addition to the lack of a mixture of retirement system, will make the public sector employees assume certain investment risk, nothing to do, in order to reduce jump retiree medical costs.
Trade union dominated the board of directors, is responsible for the operation of the California public employees retirement system, the country's largest public pension fund, will not be up to reform or independent supervision and decision, because brown asked.
CanYiChang TEM Darrell - SiTanBoGe, negotiate and confirm the transaction and brown, the problem and the changes of congress as a small step.
Sacramento Democrats pointed out, trade unions and pension reform advocates criticized the deal, but the investigation shows that the majority of California don't want to work for the government personnel, in order to eliminate fixed amount of pension.
"This debate has been, I a, I'm tired of public sector employees is the only, and I think, not fair key national problem," SiTanBoGe told his colleagues in the senate. "People into public service officer, you have a great public sector employees, mediocre, and the rest, as you in the private sector."




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