Pension Reform

Introduction

glasses and textPension Reform Activity
The topic of pension reform is complex and needs to be fully understood in order to make an informed decision. In an effort to educate our members on issues surrounding public pension funds, we have provided the Pension Reform Educational Section on the SCERA website.

Governor Schwarzenegger formed the Public Employee Post Employment Benefits Commission (PEBC) in December 2006 with the following mission:

  • Identifies the full amount of post-employment health care and dental benefits for which California governments are liable and which remain unfunded.
  • Evaluates and compares various approaches for addressing governments’ unfunded retirement health care and pension obligations.
  • Proposes a plan to address governments’ unfunded retirement health care and pension obligations.

The Commission provided a report to the Governor and the Legislature by January 7, 2008. Information regarding the PEBC report is available below.

On June 21, 2007, the California Foundation for Fiscal Responsibility filed with the California Attorney General’s Office a ballot initiative called the Public Employee Benefits Reform Act. The text of the proposed initiative is provided below.

We will add additional information to the SCERA website over time.

Post Employment Benefits Commission

On January 7, 2008, the Commission sent out a press release announcing a comprehensive eight point plan to address pension and retiree health care obligations.  The full report is available on the Public Employee Post-Employment Benefits Commission website, including an Executive Summary on pages 5 – 11. (see the link below)

Potential California Ballot Initiative

Informational Resources

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