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LA Mayor Villaraigosa vows to place pension reforms on ballot
Mayor Antonio Villaraigosa talks to the media on June 12, 2012. Villaraigosa has vowed to put pension reform on the ballot next spring.
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LA Mayor Villaraigosa vows to place pension reforms on ballot
Los Angeles Mayor Antonio Villaraigosa is vowing to place his pension reform proposals on next spring's municipal ballot, if the City Council refuses to approve them.
Villaraigosa made the comment at the U.S. Conference of Mayors meeting in Orlando. It sets up a political showdown with the City Council, which to date has agreed only to analyze his pension reform proposals. Many on the Council enjoy substantial backing from labor unions opposed to the changes.
Under the mayor’s plan, the retirement age to receive full benefits would jump from 55 to 67 for new city workers. His proposal would also cap benefits at 75 percent of an employee’s final salary and reduce pension cost-of-living adjustments. Current city workers would not be affected.
The proposal, designed to address the rising costs of pensions, is more modest than one recently approved by San Diego voters. That measure moved new city workers into 401(k)-style retirement plans.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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