SAN FRANCISCO - the largest California companies spend less than one third of that Government of the State's pension and other benefits for retired workers, a study published Thursday concluded as a battle on the costs of pensions in the public sector has intensified.
The study published Thursday, said employees of the Government, whose pensions are generally guaranteed, can expect many more pension than private sector employees. This disparity is a key element in a battle across the country on public pensions in the rights and benefits of specific and public workers in General.
"A State employee earning $60,000 a year to accumulate pension and retiree health benefits valued at $19,000 per year." "A comparable paid employee of a large company of California will receive retirement benefits worth less than $6,000," concluded the study of the California Foundation for financial responsibility.
In blink of eye to the concerns about this disparity through California officials are pressing public workers devote more of their pay to their pension and health plans retirees.
A report supervised by a former legislator in California, Stanford Institute for Economic Policy Research last year estimated pension fund California for government employees, teachers and employees of the University face more non-capitalised commitments of $ 425 billiona figure disputed by the Fund.
Private study comes a day after the public sector unions has deployed a Web site to challenge critics of their pensions and claims that public pension costs threaten public finances in the most populous US State.
At the same time, some officials are developing future workers less generous retirement packages.
San Diego leaders are thinking up should go a little further and replace pension benefit set for employees of the second largest city of the State with the retirement as sector accounts private 401 (k) s.
Voters seem prone to suppress public pensions. A recent survey from the University of Southern California and the Los Angeles Times found 70 percent of the respondents favor a cap for the current and future public service pensions, while half back reductions for their retirement and pension benefits.
"I have seen only a matter of public policy over the past 20 years who arrived on the political landscape with the speed and the strength of the public employees pensions issue", said Dan Schnur, Director of the Unruh Institute of Politics the USC.
IMPENDING BRAWL PENSION
A number of factors have fueled concerns of the public on pension costs in the course of the past years, including a campaign by Marcia Fritz, head of the California Foundation for fiscal responsibility, view payments of pension for workers of the former Government online. Several are in the range of six figures.
A public scandal in a small, poor town of Southern California to pay, also helped draw attention to the public compensation. It revolved around the City Manager of Bell, who had made nearly $800,000 per year and which was, Fritz found online for more than 30 million dollars in retirement pension payments.
This official has pleaded not guilty to charges of corruption. The Los Angeles Times last month won a Pulitzer Prize for its probe in finance from Bell.
Pension occupy a place in the California grudge budget policy. Republican legislators have derailed plan Democratic Governor Jerry Brown to extend tax increases that expire in the summer to help fill a remaining gap of approximately $ 15 billion State budget, demanding instead the major changes to the State pension. Many may be too large for the Democrats to accept.
Pensions under fire so, public sector unions on Wednesday launched a counterattack with a website critical attacker, including the Fritz. The Web site describes as one of California "principal of Chicken Littles" (who claim the sky is falling) and says that pension expenses are manageable.
It notes that the annual pension for medium the California Public Employees' Retirement System is $ 25,000.
However, voters may be more in harmony with the question of the disparity was highlighted in the study by Fritz group, giving it an advantage in the fight ahead on the retirement of California policy.
"You'll see a ballot initiative to change the policy of the pension or legislators will go a little further towards the reduction of the pension they might want to go to ward off an initiative," said Thad Kousserpolitical scientist at the University of CalifornieSan Diego.
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