California Public Pension Limits Act (2010)

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A California Public Pension Limits Act (09-0080) did not qualify for the November 2, 2010 ballot in California as an initiated state statute. It is sponsored by John Romano, and has been cleared for circulation with a petition signature deadline of June 14, 2010.

Two other initiatives that share the theme, if not the details, of 09-0080, have been filed by Marcia Fritz, the California New Public Employee Benefits Reform Acts.

Details

Title: "Limits Pension Payments That New Public Employees May Receive Upon Retirement. Initiative Statute."

Summary: "Limits the amount of pension payments that any new state or local public employee may receive upon retirement to $100,000 per year. Allows annual cost-of-living increases in proportion to the California Consumer Price Index, so long as total annual pension payments do not exceed $162,500. Prohibits the Legislature from adjusting these limits unless three-quarters of both houses approve."

Estimated Fiscal Impact: "Minor reductions in annual public sector pension costs in the short run. Major reductions in annual public sector pension and retiree health payments several decades from now. Possible increases in other public employee compensation costs, depending on future decisions made by governmental entities and voters."

Path to the ballot

See also: California signature requirements

Initiative 09-0080 is proposed as an initiated state statute, which means that supporters need to collect 433,971 valid signatures to qualify for the ballot. The circulation deadline was June 14, 2010.

External links

References


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