Today, a bipartisan coalition in California has filed the Voter Empowerment Act of 2016 with the Secretary of State, which seeks to amend the state’s constitution by referendum and give voters in local elections final say in government employees’ pension benefits.
Spearheaded by former Democratic San Jose Mayor Chuck Reed, who led an ongoing battle to reform that city’s pension system, and former Republican San Diego city councilman Carl DeMaio, the measure would require local governments put to referendum any increases in defined benefits to existing government employees.
It would also require voter approval for defined benefit pension plans to be offered to new hires.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
