Gov. Jerry Brown deserves a nod for proposing moderate reforms to California's public pension system. And because his 12-point plan is essentially an opening offer to the legislators and voters who would need to approve his proposals, we'd like to ask the governor to consider even greater reforms before this thing gets watered down (or drowns) in the Sacramento Delta.
The governor wants to offer future government employees reduced retirement benefits by shifting more of the burden — and risk — from the taxpayers to public workers. Folks already working for the state, counties, cities and school districts are largely protected by collectively bargained agreements, so little can be done to change the current situation.
But Brown is looking forward, and we commend him for at least trying to moderately reduce the burden for future generations. The governor wants to increase the retirement age for future non-public safety employees from a pretty youthful (even by European standards) 55 to an appropriate-in-this-century 67. He also wants a third of retirement benefits to come from 401(k)-style funds and for public employees to contribute half of their pension contributions.