How will we pay for this? By cutting the quality of services, schools to the next gen of Californians. (Your kids.) http://www.latimes.com/projects/la-me-pension-crisis-brown/ …pic.twitter.com/oD56chQqfV
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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How will we pay for this? By cutting the quality of services, schools to the next gen of Californians. (Your kids.) http://www.latimes.com/projects/la-me-pension-crisis-brown/ …pic.twitter.com/oD56chQqfV
We (CA) will likely have to consider capping pension benefits as well, the same way we cap social security at the high end.
you can't do that retroactively. We have to pay for what we've committed.
is that an actual rule that you can't change how benefits work for pre-2012 workers? or just political reality?
Like I said before, there are a few paths to fix this: legal, proposition, tax policy.
I'm just saying there is a court precedent in this state known as the "California rule" in which the
state can't retroactively reduce benefits. It can only reduce benefits for future employees & we are
already in the deepest teacher shortage in the country.
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