Protecting Retirement Security
Protecting Retirement Security
In 2006, a new front opened up in the battle to protect your retirement. New accounting rules established by the Government Accounting Standards Board – known as GASB-45 – require that local and state government agencies give their best guess at future retiree health costs for the next 30 years and set that 30-year total down as a liability to be paid. Currently, these benefits are budgeted on a year-to-year basis.
Echoing their attacks on the pension system, the same critics who have attacked our pensions now call for a two-tiered approach to health care, which protects current employees but downsizes future firefighters.
As it did during the 2005 pension protection battle, CPF is helping to spearhead a united front of working people coming together to fight these new attacks. CPF is one of the founding members of Californians for Health Care and Retirement Security (CHCRS). That’s the same group that led the successful fight to block Governor Schwarzenegger’s pension privatization plan.
At the end of 2006, Governor Arnold Schwarzenegger created a 12-member, bipartisan commission to study all post-employment benefits – pensions and retiree health care. Schwarzenegger – who led the 2005 pension effort – has taken a dramatically different approach to retirement issues since that failed effort.
This page is designed to keep you current on the latest efforts to preserve your retirement security ... and what you need to know to fight for it at the state and local levels:
LATEST NEWS
Governor's Pension Commission Issues Report
Anti-Firefighter Pension Rollback Still Being Pushed by Former Lawmaker
San Diego Firefighters Take to Streets Opposing Anti-Pension City Attorney