Californians back public-employee pension reform
April 25, 2011
A majority of California voters support capping pensions and a later retirement age for current and future public employees to balance the state’s budget, according to a poll by the University of Southern California. [LATimes]
Seventy percent of respondents supported a cap on pensions for current and future public employees and 68 percent said government employees should have the amount of money they contribute to their retirements increased.
Many public safety officers can retire at 50 with a pension equal to three percent of their final salary for each year worked — for example, after 30 years on the job an employee can retire at 50 with 90 percent of their salary.
Increasing the age at which government employees may collect pensions was favored by 52 percent of poll respondents.