The California Foundation for Fiscal Responsibility (CFFR) has been a tireless leader for tax payer funded pension plan reform. The CFFR has a clear and concise initiative (HERE) that addresses the current pension plan crisis plaguing California's public agencies.
Some of the areas of reform highlighted in the initiative are:
- Limits on pension benefits
- New definition of "Full Retirement Ages"
- New definition of "Highest Average Salary"
- New Vesting Schedules
- Call for Voter Approved Increases
Thank you to Marcia Fritz (President of the CFFR) for pointing me to CFFR's initiative.