San Jose Cuts Pension Reduction Offer in Half
On Thursday, San Jose leaders offered to reduce retirement concessions for municipal workers by $25 million annually, down from their previous proposal of $50 million annually. The cuts follow a 2012 voter-approved pension initiative -- called Measure B -- that reduced pensions for new hires and trimmed health plans for retirees, resulting in $25 million in annual savings.
- "San Jose Makes 'Half-Off' Pension Offer in Attempt To Solve Bitter Police Battle" (Rosenberg, San Jose Mercury News, 2/12).