“This agreement caps benefits, increases the retirement age, stops abusive practices, and requires state employees to pay at least half of their pension costs. It requires new employees to contribute at least half of normal costs and sets a similar target for current employees, subject to bargaining. It represents the largest rollback in providing a secure retirement to public servants in California history.
“While CSUEU supports common-sense changes to end spiking and abuse of the system, this draconian package goes much further by unfairly and unilaterally slashing pensions for middle-class, working families, the vast majority of whom receive less than $35,000 per year in retirement benefits.
“It remains to be seen what impacts this agreement will have on the more than 14,000 classified staff members who are represented by CSUEU, whose agreement with the California State University system is in place through summer of 2014. We will review the specific bill language when it is released and address questions on impacts at that time.
“At worst, this package will serve to further erode salaries and benefits that have remained stagnant for years in the face of California’s endemic budget problems. We oppose solutions of this kind, which seek to solve the state’s systemic financial problems and legislative gridlock on the backs of its hard-working employees.”
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Categories: General News, Legislation |
Posted: 8/28/2012 |