We have been posting about a potential state ballot initiative allowing California government employers (including UC), to change pension benefit formulas of current employees going forward. We have noted that inclusion of UC is not a Good Thing. Please see prior posts for info.
A news item that appeared yesterday about a similar measure that was enacted in San Jose indicates that the city measure seems to have been voided in part by a court decision. Readers will know that Mayor Reed of San Jose has been the front man for the state initiative. What is odd about the article is that although Reed is quoted as reacting to the court decision, he doesn’t say what you might expect. The obvious thing to say from his viewpoint is that the court decision proves that there is a need for a statewide initiative. But he doesn’t say that, suggesting – perhaps – that the decision potentially is an impediment to the state initiative, too. We will try and follow up. Meanwhile, here is the article on the court decision:
It might be noted that Reed had some problems with the finances of his pension committee that promoted the city measure: www.mercurynews.com/internal-affairs/ci_24782558/chuck-reed-appeals-1-fine
For legal types that might want to weigh in, the court decision is below:
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