South Bay

San Jose Declares Fiscal Emergency to Cut Workers’ Retirement Benefits

06/10/2011

On Friday, May 13th, San Jose Mayor Chuck Reed released a memo calling for a Fiscal and Public Safety Emergency to “gain control over skyrocketing retirement costs.”  In the memo, Reed announced his plan to place a measure on the November ballot that would dramatically cut City workers’ retirement benefits.  Vice Mayor Madison Nguyen and Councilmembers Sam Liccardo and Rose Herrera also signed on to the proposal.

San Jose Members Fight to Safeguard Vested Benefits, Participate in Trainings

06/10/2011

 

On May 2, San Jose’s City Manager unveiled a Five-Year “Fiscal Reform” Plan proposing that the City create a hybrid Social Security-Defined Contribution plan for new hires instead of the Defined Benefit retirement plan that current workers have.

Pages