Comment on the Budget Pension Reform

Marcia Fritz
CPA and President of the California Foundation for Fiscal Responsibility

The 2nd tier benefits for new hires is an excellent move in the right
direction, and we hope this action will be copied by local agencies
throughout the state.

However, based on a new study released today, fiscal conditions are so
dire that we must also ask for more pension concessions from current
workers to avoid cuts in services, layoffs, and/or higher taxes.

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