California governor Jerry Brown is expected to sign a new pension reform bill on Wednesday. The bill will mainly affect workers hired after 2013, and proponents say that it will save billions of dollars. The bill will increase the retirement age, cap benefits and require workers to pay more. The bill keeps the system as a traditional pension plan for workers, and does not address health care costs. Opponents say that the bill does not go far enough, and some unions say that it is circumventing collective bargaining. The changes will affect state employees, as well as most local employees, and is estimated to save the state between $22 and $55 billion over 30 years.
See "Gov. Brown to sign California pension reform bill", Judy Lin, The Mercury News, September 11, 2012