Update: Brown’s Pension Program Explicitly Includes UC
Yesterday, I posted a news item on gubernatorial candidate Jerry Brown’s proposals for state pensions. More details have now appeared on his campaign website. It is clear that UC is included, based on what appears on the website. From http://www.jerrybrown.org/pension Or pdf version:http://www.jerrybrown.org/sites/default/files/Jerry%20Brown%20for%20Governor%20Pension%20Reform.pdf Pension Reform Money needed to fund government employee pensions comes from three sources: contributions by the employees themselves, contributions by the government, and investment returns. Historically 60-75% of the funds have come from investment earnings. As Wall Street profits soared to unrealistic levels, state pension earnings grew abnormally and many California jurisdictions took advantage of what turned…