Anti-Retirement Group Suspends Pension Initiative Campaign
Citing funding shortfalls and ballot language that was too close to the truth for their liking, anti-pension activists have suspended their attempt to undermine retirement security for millions of California workers.
California Pension Reform announced Wednesday that they are putting their proposed pension-slashing initiative on hold.
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The group, led by several former staffers of Gov. Arnold Schwarzenegger, had begun gathering signatures on a measure that would have slashed secure retirement, circumvented collective bargaining and taken a bite out of the retirement security of millions of hard-working employees.
Californians for Retirement Security, the broad coalition of pension supporters that includes CPF, issued a statement following the decision:
"We have always believed that changes in California's pension system are best addressed at the bargaining table and through the legislative process, not the ballot box. These sloppily written initiatives were dead on arrival because they were costly and undermined retirement security for millions of middle class Californians. While we are pleased these ballot measures will not go forward, we will continue to work with the Governor to work on real solutions to stop abuses and provide savings in our state's pension systems."