
Two More Unions Do The Smart Thing: Will CCPOA AND SEIU Follow Suit?
There’s more good news on the pensions front: today Gov. Schwarzenegger’s office announced tentative pension rollback agreements with two more unions: the Union of American Physicians and Dentists and the International Union of Operating Engineers. Like agreements announced earlier this month between the administration and four other unions, this means employees will contribute 5 percent more to their retirement funds and gain an unpaid leave day each month. Newly-hired employees will also have to work longer to receive their full retirement benefits.
These are not devastating sacrifices, or even tough changes. They are just slight, common sense modifications to the current system that will save the state a great deal of money in the long run. As Schwarzenegger has done a tremendous job highlighting, California’s pension system has spiraled completely out of control over the last 10 years, to the tune of 2000% increases and… Read More