December 24, 2011
Opinion: Pension reform hindered by limits of contract protections
When it comes to public-employee pensions in California, what goes up usually can't come down.
At least that's the prevailing legal theory, severely restricting reform options across the state. As the state pension squeeze intensifies, we soon could see those limits tested.
Pensions typically are based on the number of years an employee works. Each additional year adds to future retirement payments. Starting in 1999, most public agencies in California increased that annual accrual rate...
LINK - MercuryNews.com
