I thought I would share some information with all of you. I belong to the Retired Public Employees Association of California. (RPEA) There is another movement afoot to attack our pension benefits. A CPA in Southern California is sponsoring a ballot initiative that is called the McCauley Initiative. It proposes to change the state constitution to allow the state to cut current retiree benefits. This ballot measure, which is based on a Wisconsin model that permits the legislature to cut benefits, will appear on the November ballot if it gets the required number of signatures to qualify and it probably will. Please tell your wife, neighbors and enemies not to sign this initiative. It is bad news if it qualifies. Attorneys tell RPEA that this initiative may be unconstitutional on its surface for various reasons, but it could lead to more unnecessary and costly litigation. There is more on there website, WWW.RPEA.com. Also, the ever popular Keith Richman, is back with a new ballot initiative that would limit non-safety public agency employees to a pension of 50% of there final salary and safety employees would be limited to 70% of there final salary. Richman is trying to use the internet to secure signatures to qualify his latest ballot measure. If McCauley succeeds in his quest to place his initiative on the ballot no pension system will be safe. If you are not a member of RPEA think about joining.
7 years 48 weeks ago, 9:33 AM