Governor Brown’s pension reforms will result in historically LOW pension contributions on the part of the public employers (taxpayers) since employees now have to share the total burden of the contributions 50/50. Prior to this, the employee portion was a fixed percentage while the employer portion varied based on return assumptions and the actuarial numbers coming from the pension funds. In many cases, this will result in a net loss of 10-20% (or more, if return assumptions change) for public employees.
This is **in addition to** any concessions already made by unions over the past few years, and it is **in addition to** the concessions on retiree healthcare made in the 1990s.
Funny how the media never crows about these concessions like they do the one-off stories about some police chief making a $200K retirement pension. Perhaps that’s because the people who are pushing the anti-union message are NOT taxpayer advocates, but PRIVATE INDIVIDUALS who are trying to take over public assets and revenue streams. Funny how that works, isn’t it?
