A newsletter released to Senator Darrell Steinberg's constituents claims that his pension slashing plan goes "above and [Gov. Brown's] proposal to include more than a dozen additional reforms."
According to the newsletter, that plan will include (among other things) a "hybrid system"; tossing a portion of employees' modest retirement benefits into a risky 401(k).
Many are speculating that Sen. Steinberg and Governor Brown are attempting to curry favor with the public for the tax raises that will appear on the November ballot by showing that they are taking a strong stand for pension reform.
Does Sen. Steinberg's politically motivated and personal attack on your hard-earned, modest benefits make you less inclined or more inclined to support the Governor's tax increases that will appear on the General Election ballot this November?
Weigh in on this hot button issue in the comments section.
The full text of the newsletter:
Dear Neighbor:
At the top of our pending list is conprehensive pension reform. We've worked over the past eight months reviewing and refining the Governor's proposed 12-Point Plan, going above and beyond his proposal to include more than a dozen additional reforms.
These reforms include eliminating pension spiking, double-dipping, purchasing of "airtime" and retroactive pension increases. Among other things, our proposal also increases retirement ages, rolls back pension formulas and establishes a hybrid system for new employees.
In great news for Californian homeowners, the Legislature passed the Homeowners' Bill of Rights. Hundreds of thousands of Californians desperately trying to stay in their homes will have significant new protections to avoid foreclosure. The legislation gives homeowners a fighting chance to modify their loan by banning the lender practice of simultaneously proceeding with the foreclosure process during a loan modification (dual-tracking); imposes fines against lenders who file unverified documents (robo-signing); and establishes a single point of contact for borrowers.
The Governor also signed into law SB 1029, which will create tens of thousands of new jobs to build and maintain California's High Speed Rail network. Not only does this bill propel California into the future, but it also improves our existing mass transit in major urban areas, including the Sacramento region. The result will be faster, cleaner and more convenient travel throughout California.
As the Legislature returns for the end of this session, we all have one goal in mind – improve the State of California and the lives of Californians. These measures are significant steps in that direction. In this e-newsletter, please read about:
• Supreme Court Rules on the Affordable Care Act
• Mortgage Relief for Homeowners
• High Speed Rail Funding
• Water Bond Delayed
• Heat-Related Fatalities
• July 1st Brings Autism Health Insurance Coverage
• District Events
Sincerely,
Darrell Steinberg, Senate President pro Tempore
6th Senate District