May 24, 2011
Pension reduction initiative authorized to collect signatures
Former Republican Assemblyman Roger Niello of Sacramento is clear for signature take-off on his controversial public employee pension reform initiative.
The Secretary of State officially announced today that he may begin collecting the required 807,615 signatures of California voters in order to qualify the measure for the statewide ballot.
The constitutional amendment strips public employee unions of their right to negotiate their pensions in collective bargaining, sets the retirement age at 62 and caps benefits at 60 percent of an employee’s highest average base wage over three years. It also requires that workers match the public contribution to their premiums...
LINK - IBABuzz.com
