Fork in the Road on Public Pensions in California?
Diligent readers of this blog will know the following 7 points about public pension proposals in California (and their relation to UC’s pension plan): 1) The Regents adopted pension changes – essentially a two-tier defined-benefit approach – for the UC retirement system. 2) The governor is pushing a 12-point “hybrid” system (mix of defined benefit and defined contribution) for all public pensions in California that – unless UC is exempted – could override the Regents’ action. 3) Although it is the official position of UC that it wants an exemption, the governor has not agreed to one. 4) The legislature…