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Main Points of Governor Brown’s Pension Reform Plan

by | Oct 27, 2011

Main Points of Governor Brown’s Pension Reform Plan

Main Points of Governor Brown’s Pension Reform Plan

1. Equal Sharing of Pension Costs: All Employees and Employers

2. “Hybrid” Risk-Sharing Pension Plan: New Employees

3. Increase Retirement Ages: New Employees

4. Require Three-Year Final Compensation to Stop Spiking: New Employees

5. Calculate Benefits Based on Regular, Recurring Pay to Stop Spiking: New Employees

6. Limit Post-Retirement Employment: All Employees

7. Felons Forfeit Pension Benefits: All Employees

8. Prohibit Retroactive Pension Increases: All Employees

9. Prohibit Pension Holidays: All Employees and Employers

10. Prohibit Purchases of Service Credit: All Employees

11. Increase Pension Board Independence and Expertise

12. Reduce Retiree Health Care Costs:

State Employees Savings will be in the neighborhood of $900 million per year to the State.

Papers used by a Sacramento Estate Planning Attorney

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