Stockton went bankrupt and their exit plan did not address the unfunded liabilities. There is going to be a ballot in the coming election which would give taxpayers a say in public employees pension increases. Do you think its a beginning???
The Contra Costa Taxpayers Association sponsored a workshop called “The Pension Challenge” on October 30. Chuck Reed, former San Jose mayor, introduced his proposed ballot initiatives to give voters an opportunity to approve increases in the pensions of public employees, and to require reasonable restrictions on taxpayer liability. CCTimes editorial writer Dan Borenstein also spoke, explaining the inherent problems with “vested rights,” a major issue in the massive current unfunded liability.
CoCoTax will continue to monitor the progress of Chuck’s initiatives, and will sponsor follow-uo workshops next year.
Visit http://www.cocotax.org for more information.
Thank you for this link. Will there be another workshop that we can inform more people about? This is such an important subject that affects everyone. We cannot lose a chance to help correct the past errors.
Maybe you can speak to our group?
Thanks for all you do