
Yesterday the California Foundation for Fiscal Responsibility (CFFR) filed with the Attorney General’s office two pension and retiree health care initiatives that would save state and local government agencies hundreds of billions of dollars in retiree benefit costs, and would end the expensive abuses which have increased costs and run up huge deficits for public defined benefit pension plans. The initiatives are identical except for the voter requirement that allows agencies to increase benefits for new workers. CFFR plans to poll voters to determine which version they prefer.