During his speech on Wednesday the Governor vowed to "end define benefit plans" in California and repalce them with defined contribution plans like a 401(k). Local 1014 will prepare something for the membership on the impact to LACERA in the next few days.
If you would like to view the ballot initiative submitted by Keith Richman (Republican - Santa Clarita) and the Howard Jarvis Taxpayers Association that would end public employee defined benefit plans please click below and download.
hjta pension initiative submitted for title and summary.pdf