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Monday, October 31, 2011

[socialist-econ] California Gov. Jerry Brown proposes State Pension Changes


Sent to you by jcase via Google Reader:


via Calculated Risk by CalculatedRisk on 10/27/11

If this moves forward, this might become a model for other states. A big "if" ...

From the LA Times:
Gov. Jerry Brown risks backlash on pension plan
Brown's 12-point plan, announced Thursday, would require that all public workers have at least half the cost of their pensions deducted from their paychecks. ...

The governor also wants future employees to receive up to a third of their retirement income from a 401(k)-style plan rather than a traditional guaranteed pension. And he urged that the retirement age for most new public workers be raised from 55 to 67.Earlier on GDP:
GDP slightly above pre-recession peak, Investment Contributions
Advance Estimate: Real Annualized GDP Grew at 2.5% in Q3
GDP Graphs


Things you can do from here:


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