June Trigger; August Cap
Note: This posting has been updated with a report at the very bottom indicating UC is not included in the pension deal. First we had a trigger cut as part of the state budget enacted in June. Now we are about to hear about a pension cap. According to various news reports, the legislative leaders will announce later today what they are going to do with Governor Brown’s pension proposals. They have apparently dropped his hybrid idea of a mix of defined benefit and defined contribution and are sticking with defined benefit. But some kind of cap will also…
