Pension Reform Initiative Seeks Signatures For November Ballot

Backers of an initiative that would reduce the cost of public employee pensions were given approval today to begin gathering signatures by Secretary of State Debra Bowen.

The initiative would require all current and future public employees to annually pay at least half of the projected costs of their pension plan's defined benefits; hybrid pension plans for new employees, composed of defined benefits, defined contribution and Social Security; raise the minimum retirement age for future law enforcement officers and firefighters to 52 and 57 for other public employees; and require 15 years service for new state employees to receive any retirement health benefits.

Valid signatures from 807,615 registered voters -- 8 percent of the total votes cast for governor in the 2010 general election -- must be submitted by Oct. 4 to qualify the measure for the ballot.

Pension reform is one of the items on the compiled by members and City staff. Proposed reform for City employees includes increasing the retirement age and making employees pay for a portion of their benefits package.

"We want to be very fair and competitive with our employees," previously told Patch in a video interview. "On the other hand, the current program of public employee pensions is just unsustainable over the long run."

See Councilman Dennis Kneier discuss pension reform in the attached Patch video taken when Kneier was running for re-election in November.

Download the movie