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November 12, 2005
A CA union goes along with pension reform
The Sacramento Bee reports that:
Members of a state lawyers' union have ratified a first-time-ever contract that allows state civil service workers to opt out of California's retirement system,
Public pensions are in a broader and more serious crisis than are corporate pensions. A key way out is to start shifting workers to defined contribution 401(k) style pensions, as Gov. Schwarzenegger has now done with the state lawyers union.
Posted by adrianm at November 12, 2005 01:24 PM
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