We all know how Democrats feel about politicians that try to restrict public employee unions, right? So, do you think they’ll try to recall this governor who’s trying it?
Gov. Jerry Brown will propose sweeping rollbacks to public employee pension benefits in California, including raising the retirement age to 67 for new employees who are not public safety workers and requiring state and local employees to pay more toward their retirement and health care, according to a draft of the plan obtained Wednesday by The Associated Press.
The governor will also propose Thursday a mandatory “hybrid” system in which future retirees would get their retirement from a guaranteed benefit and a 401(k)-style plan subject to market whims. For employees with at least 30 years of service, retirement benefits would aim to replace about 75 percent of an employee’s salary through retirement funds and Social Security, according to the draft.
The plan, as drafted, also would end so-called pension “spiking” that lets employees boost their payouts by including overtime and other benefits, and end the practice of buying additional service credits.
‘Twill be interesting to see what happens… will unions eat one of their own, or will they show their double-standard to the world at large?