Governor Pushes For Roll Back to 1999 Pension Levels as Cities Move to Crisis Level
“Our pension crisis is a real problem that gets worse every day. California has $500 billion in unfunded pension debt that, without reform, will continue to grow and crowd out funding for programs and services Californians hold dear such as higher education, parks and environmental protection,” said Governor Schwarzenegger. “The state has a duty to ensure taxpayer dollars go to things the taxpayers care about, and that’s why I will not sign a budget that does not include pension reform.”