Proposed pension reform in budget

Katy Grimes: Late Friday, legislative leaders, looking haggard, announced that they had come to an “agreement” on the budget.

Details are trickling out, with the actual budget deal slated to be released on Wednesday, and voted on Thursday.

Assembly Republican leader, Martin Garrick, R-Carlsbad, in an interview with Sacramento radio talk show host Eric Hogue (1380 KTKZ), said that the negotiations were a challenge, but they did achieve state pension reforms, including upping the age of retirement, spiking prevention by using a rolling formulation of three to five years, as well as addressing the unrealistic growth predictions previously used.

Garrick was reticent to predict whether or not Democrats will vote for it. We will see on Thursday.

As more budget details are released, CalWatchdog will report.

OCT. 4, 2010

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