February 25, 2011
Little Hoover Commission: Cut retirement benefits for current employees, including C/Os
The Little Hoover Commission issued a report today recommending the reduction of pension benefits for all current public employees in the state.
Here are a few excerpts from the report:
- “The Legislature should give state and local governments the authority to alter the future, unaccrued retirement benefits for current public employees.”
- “Freezing earned pension benefits and re-setting pension formulas at a more realistic level going forward for current employees would allow governments to reduce their overall liabilities – particularly in public safety budgets. “
- “Police officers, firefighters and corrections officers have to be involved in the discussion because they, as a group, are younger, retire earlier and often comprise a larger share of personnel costs at both the state and local level.”
- “Public safety pensions cannot be exempted from the discussion because of political inconvenience.”
