Digital News Report – SACRAMENTO – Senate Republican Leader Dennis Hollingsworth (R-Murrieta) today announced the launch of a new web-site dedicated to reforming our state’s unsustainable and dysfunctional pension system.
In an effort to help every individual and community in California access the resources they need on this important subject, the Senate Republican Caucus has created an information portal entitled, “Pension Reform.”
“Public pension obligations are a ticking time-bomb and many don’t fully understand how devastating these costs are to our state’s fiscal well being,” said Hollingsworth.
Currently there are 9,111 retired California government workers receiving pensions in excess of $100,000 and according to one recent study, California’s public retirement plans are under funded by more than a half trillion dollars ($536 billion), equaling about $36,000 per household.
Hollingsworth further stated, “The current pension program is unaffordable, unsustainable and left unchanged will lead to California’s fiscal ruin. Taxpayers can no longer afford to provide state workers with pension plans that are far richer than anything comparable in the private sector. But first, people must understand how these public employee retirement plans impact the average taxpayer. To achieve this, the Caucus web portal is designed to link users with the crucial information they need.”
The Senate Republican Caucus intends for this web-site to evolve into an effective clearinghouse of useful information.
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