|Page (1) of 1 - 06/09/12||email article||print page|
SAN DIEGO (AP) ' For years, companies have been chipping away at workers' pensions. Now, two California cities may help pave the way for governments to follow suit.
Voters in San Diego and San Jose, the nation's eighth- and 10th-largest cities, overwhelmingly approved ballot measures last week to roll back municipal retirement benefits ' and not just for future hires but for current employees.
From coast to coast, the pensions of current public employees have long been generally considered untouchable. But now, some politicians are saying those obligations are trumped by the need to provide for the public's health and safety.
The two California cases could put that argument to the test in a legal battle that could resonate in cash-strapped state capitols and city halls across the country.
Keywords:Public Pensions,Government pensions and social security,Municipal governments,Government business and finance,Business,Government and politics,Local governments
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