Wednesday, September 12, 2012
One-Third of State Workers Set To Pay More for Pensions
A pension reform bill (AB 340) approved by the Legislature would increase by 1% to 3% over the next two years the amount about one-third of state worker pay toward their pensions. The increase would apply to state workers who are not already paying half the "normal" cost of their pensions, a new standard set by the legislation. Gov. Jerry Brown (D) is expected to sign the bill into law.