State

February 5, 2014

Read Jerry Brown’s letter calling for CalPERS to immediately raise employer contribution rates

Gov. Jerry Brown, citing statistics showing that government employees are living longer and driving up pension costs, has challenged CalPERS to increase employers’ contributions to the fund instead of following a staff recommendation to delay raising rates for two years. Waiting, he says, merely adds to the fund’s debt.

Gov. Jerry Brown, citing statistics showing that government employees are living longer and driving up pension costs, has challenged CalPERS to increase employers’ contributions to the fund instead of following a staff recommendation to delay raising rates for two years. Waiting, he says, merely adds to the fund’s debt.

(Worth noting: Brown’s 2014-15 budget proposal puts off addressing the teachers’ retirement system’s growing unfunded liabilities until 2015-16.)

Bee Capitol Bureau colleague David Siders has the story on our sister blog, Capitol Alert. Read Brown’s letter below or click here to download it.

Letter from Gov. Jerry Brown to CalPERS President Rob Feckner

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