January 4, 2012
The GOP’s California Pension “Reform” Plan Continues to Get Bad Reviews
With the Attorney General expected to release its Title and Summary for the pair of GOP pension-gutting measures any day now, we can only hope she comes to the same conclusion the Legislative Analyst did when it put its lump of coal into the stockings of the millionaires behind the proposals: The revelation that their sloppily-drawn "reform" plans in fact will cost state and local governments billions MORE in pension costs.
The LAO pegs the taxpayer cost of the pair pension-stealing ballot measures at no less than $1 billion dollars every single year for the next three decades. The Orange County Register warns that taxpayers aren't likely to see any savings until they are "grizzled and gray." And although the LAO sees "potential" savings in the distant future, “pension reform could actually cost governments, and the taxpayers who fund them, more,” says the Register...
LINK - CAMajorityReport.com
