California Pension Reform - New York News

Point of View

California Pension Reform

Kevin T. Hale, KTTV Vice President & General Manager Kevin T. Hale, KTTV Vice President & General Manager

Four cities in California have finally had enough. Enough of out of control pensions costs that threaten to financially destroy them.  These cities do not want to end up broke like Detroit, San Bernardino and Stockton.

San Jose and three other cities are proposing an initiative for the November 14th ballot. It would give California governmental entities the power to reduce "within reason" current government worker pension liability.

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These cities are well aware that reducing pensions for future hires alone will do very little to reduce the $500 billion dollar projected funding pension shortfall facing state and local governments.

Already public unions have come out in full force against the initiative, claiming it violates current labor contracts. 

The proponents of the ballot measure say by reducing pensions to an amount cities can pay, guarantees retirement plans will be viable into the future. 

A bankrupt city may not be able pay any pensions at all. 

So, a reasonable "something" is a lot better than an unreasonable "nothing." 

In my opinion, all California cities should support the pension reform initiative.  

Additionally, I call on Governor Brown and Mayor Garcetti, to please come out in favor of this ballot measure now and start raising money to support it. 

We do not need any more cities going bankrupt. 

Cities such as Compton, Oakland and Fresno are already teetering on the brink of insolvency.

This initiative gives the people of California a fighting chance to save their state and local governments from financial disaster.

Thanks for listening.

What do you think? We want to hear from you about this P.O.V. segment. Share your thoughts in the comments section below or email me directly at POV@fox11.com.

Kevin T. Hale,
Vice President and General Manager
KTTV-TV, FOX 11 News

The views expressed are not necessarily those of the station or its employees.

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