More bad news for that secure retirement
![pension_reform](https://pubsecalliance.com/wp-content/uploads/2014/06/pension_reform.jpg)
There’s no way this is “reform.” We prefer the word “theft.” Pensions don’t need to be “reformed.” Taxpayers must honor their promises made to nurses, teachers, firefighters and cops who are guaranteed their pensions under a binding contract.
This time the story is out of Ventura County in California where a controversial proposal to eliminate the current pension plan and switch for a 401k style plan has qualified for the November ballot. The proposal easily exceeded the 26,000 verified signatures it needed to make the ballot. Proponents gathered more than 40,000 signatures, with 32,000 verified as valid. The proposal calls for shifting county employees from a traditional pension retirement system to a 401k style plan. It would be phased in with new hires. It would also put a five year freeze on the pension rate for a number of current county employees.