Abstract
The past few years have witnessed the rise of local ballot measures in California to limit public employee retirement benefits. What has happened to pension plans in California? Why is there such an attitude change towards public pensions? This paper, based on a survey of California cities, intends to investigate if public pensions have become unsustainable particularly in the face of the recent recession. The research shows city governments in California are facing both financial and social issues concerning their pension plans. To deal with the problems, cities have adopted strategies to reduce pension benefits, increase employee contributions, cut costs in other areas, and take other measures. Cities also have seen the use of the initiative process to control pension costs, balance their budgets and maintain fiscal sustainability.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Journal of Public Budgeting, Accounting & Financial Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
