Pacific Grove City Employee Retirement Act Measure Y, 2008
From Ballotpedia
A City of Pacific Grove Employee Retirement Act election, also known as Measure Y, appeared on the November 4, 2008 ballot for voters residing in the City of Pacific Grove in Monterey, California.
The question facing voters was whether the city should replace the current defined-benefit retirement plan (California Public Employees' Retirement System) used by city employees with a defined-contribution retirement plan along the lines of a 401 (k) plan.
Measure Y was approved with 56.08% of the vote.
The full text on the ballot was:
- City of Pacific Grove Advisory Measure: Should the City of Pacific Grove replace its existing employee’s defined-benefit retirement plan (California Public Employees’ Retirement System, or Cal PERS) with a defined-contribution retirement plan (similar to an Internal Revenue Code section 401 (k) plan)?
