Protecting Retirement Security
The other shoe has dropped in the campaign against your retirement security.
An organization dedicated to rolling back retirement benefits has submitted two alternative versions of an initiative that would dramatically roll back the retirement security of future generations of front line firefighters and their families.
The proposals, which have been submitted to the Attorney General for official title and summary, would mandate a two-tiered retirement system on state and local agencies, with a cavernous gap between the tiers.
- Boosts the minimum retirement age for firefighters to 58, forcing front line personnel to work as much as eight more punishing years;
- Reduces maximum benefits by about 1/4 for new first responders. Over 30 years, new firefighters could receive up to 60% less than current firefighters.
- Dramatically restricts retiree health benefits, with a longer vesting requirement
- Restricts your local’s right to collectively bargain benefits.
- Requires 2/3 statewide voter approval for any retirement benefit improvement
In short, it’s a wish list for those looking to steal your members’ retirement security.
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.
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
Anti-FF Group Introduces New Retirement-Slashing Initiative
Information on Benefits for Laid Off CalPERS Members
5 Big Financial Changes for Retirees in 2010
New Tax Withholding Rates for Benefits
Social Security Fairness Act of 2009 Needs your Support
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