The California Public Employee Retirement System has become completely unsustainable and has the potential to topple our entire state budget. Today our pension plan has a debt of 500 billion dollars. How have we allowed this to happen?
I authored two measures reforming pension and health care benefits for public employees, which were brought before the voters in Redding. Both passed by nearly two-to-one margins. As a result we have decreased our future retiree liability, balanced our budget, and reduced layoffs.
I intend to take similar action in Sacramento, as your Assemblyman.