California "Raise Public Pension Retirement Ages Act" (2012)
|Not on Ballot|
| This measure did not or |
will not appear on a ballot
The letter requesting a title and summary for the proposed initiative was signed by Alan Oliver Ebenstein. Ebenstein is a lecturer in economics at the University of California-Santa Barbara. He says that he has found financial backers willing to put "a few hundred thousand dollars" toward a petition drive to collect the required signatures to qualify the measure for the ballot. Ebenstein is supporting two additional ballot measures that are reqarded as unfriendly to labor.
Text of measure
- "Increases the minimum retirement age to 65 (or 58 for sworn public safety officers) for members of the California Public Employees' Retirement System and the California State Teachers' Retirement System, including for teachers, nurses, police officers, firefighters, and other public employees."
Summary of estimated fiscal impact:
(This is a summary of the initiative's estimated "fiscal impact on state and local government" prepared by the California Legislative Analyst's Office and the Director of Finance.)
- "In the long run, possible reductions in state and local pension and retiree health costs. The magnitude of the savings would depend on a variety of legal, implementation, and behavioral uncertainties and would be offset to an unknown extent by increases in other state and local employee compensation costs."