The latest attack on pensions came in the form of an initiative put forward by San Jose Mayor Chuck Reed, which would have been a California constitutional amendment that would allow government employers to break the retirement promises they had made to workers.
Reed however has decided to not pursue collecting signatures on his ballot measure after being disappointed with the title and summary by the Attorney General’s office- and the fact that it would cost millions to qualify the ballot measure for the November election.
For years, the librarians, teachers, emergency responders, social workers, and other public sector workers who have dedicated our careers to public service have been vilified and
blamed for the financial crisis Wall Street created. That is why SEIU is fighting to protect pension retirement security while at the same time pushing for a secure retirement for all workers.
Affordable Pensions for all working Californians
SEIU members worked together to pass landmark legislation (formerly SB1234) that will provide private sector workers the opportunity to enjoy secure and stable retirement accounts through CalPERS. The financial industry fiercely opposed this effort, and will still try to derail it. We are working to ensure strong research and effective leadership will make this plan a success, because everyone deserves retirement security, and that’s a principle worth fighting for!
Read the latest on the Reed Ballot Initiative:“San Jose Mayor Loses New Challenge”