Prohibit Employers from Making Employee Pension Contributions. All California public agencies would be prohibited from making employee contributions that fund the normal cost of employee retirement benefits in whole or in part.
Encinitas does that.
Prohibit Retroactive Pension Increases. All California public agencies would be prohibited from granting any retroactive pension benefit increases, such as benefit formula improvements that credit prior service.
Jerry's looking at you, Jerome Stocks and Maggie Houlihan, with your 2005 35% retroactive giveaway!
Prohibit Pension Spiking: Three Year Final Compensation. Final compensation for new employees would be defined as the highest average annual compensation during a consecutive 36 month period.
Prohibit Pension Spiking: Define Compensation as Only Regular, Non-recurring Pay. Compensation means normal rate of pay or base pay.
Oh, Jerry's frowning on Encinitas here. Encinitas does it so, so wrong. We not only use the last one year instead of average three, we allow all kinds of pension spiking games.
And Jerome Stocks wants to sign a new labor contract without reforming any of the obvious things that even union-supported Democrat Jerry Brown thinks have to be fixed!