Los Angeles Mayor Antonio Villaraigosa and City Controller Wendy Greuel voiced support today for a plan to scale back pensions for newly hired police officers and firefighters. The proposal is part of a larger effort, that BizFed has long-supported ,to prevent retirement costs from eating away at taxpayer-funded services.
Villaraigosa and Greuel held a 10 a.m. news conference today to announce their support for City Administrative Officer Miguel Santana's proposed pension reform ballot measure, according to the LA Times' blog. It would require newly hired sworn public safety employees to contribute more toward their pensions while receiving less generous benefits than those currently allowed. To read the full story, click here.
The press conference comes even as business leaders continue to push for reform. On Friday, Los Angeles Area Chamber of Commerce President and CEO Gary Toebben said in an article in Fox & Hounds Daily that the fundamental question facing Los Angeles City Hall today is whether L.A.'s residents should continue current funding for city employee pension and health care costs at the expense of basic city services. To read the full article, click here.
