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Legislature sends pension changes to governor

3:40 PM, Aug 31, 2012   |    comments
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SACRAMENTO, CA (AP) - The state Legislature has approved a package of changes to California's public employee pension system that is expected to save taxpayers billions of dollars, even as Republican lawmakers said much more needs to be done.

The main pension bill, AB340, passed 49-8 in the Assembly and 38-1 in the Senate on Friday. It now goes to the governor, who supports it.

Lawmakers voted even as companion legislation was hustled up to make key fixes in the hastily written bill, which was being taken up during the final day of the legislative session.

Some Republican lawmakers complained the process was rushed and preferred to delay a vote until the drafting mistakes were fixed.

The legislation will increase the retirement age for new employees, eliminate numerous abuses of the system and require workers who are not contributing half of their retirement costs to pay more.

The Associated Press

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