That's why only about 30 people have reportedly provided financial support for this flawed proposition.
It's time everyone gets the facts. For one, it will result in no immediate savings and will do nothing to resolve the current budget shortfall. Not to mention half of CalPERS retirees receive only about $1,300 a month or less. And the average CalPERS pension is approximately $25,000 a year.
Our state is in an economic crisis due to poor investments on Wall Street, not because of working families. City workers pay into their retirement plan and they don't receive Social Security benefits. Attempting to punish working families for a temporary recession they didn't create not only doesn't make sense, it's just plain punitive and mean-spirited.
Why would anyone want to support that?
Mary Jane Salinas-Cabildo, Laurel Street, Menlo Park