Prius Public Pensions?
An earlier post noted the ongoing negotiations between Governor Brown and certain GOP legislators as he tries to get a couple of Republican votes for his budget proposal. A 2/3 vote in the legislature is needed to put the governor’s tax extensions on the June ballot and at the moment he doesn’t have 2/3. (As previous posts have also noted, there might be a technical work-around the 2/3 rule, but is is more technical than practical.) One of the items for which Republicans are holding out is what is termed a “hybrid pension.” This notion surfaced as part of the…