Disaster time
San Jose Mayor Chuck Reed, with several other California mayors, is trying to get an initiative called the “Pension Reform Act of 2014” onto the November 2014 state ballot. According to an analysis from Rains Lucia Stern, a pro-labor law firm, the initiative will be a disaster for public workers if passed. Their article states that the Act contains “a provision which specifically grants the employer the full power to modify, freeze or terminate a pension” and that it actually requires the state (otherwise known as the taxpayers) to foot the bill to defend the initiative against the inevitable tsunami of legal challenges if it is passed into law. Read the full analysis, then come back here and tell us what
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