Los Angeles Business Journal

Business Leaders Want Reform in L.A. Pension Costs

Thursday, August 16, 2012

Los Angeles business leaders on Wednesday pressed elected officials to address ballooning city employee pension costs, pushing for salary freezes as well as a ballot measure that would let voters, instead of lawmakers, decide how much employees should collect in retirement. The Los Angeles Times reports that, unlike a plan by Mayor Antonio Villaraigosa that would affect only new city employees, the group’s proposal would open the door for salary reductions for current staff.