San Jose softens pension proposal
San Jose officials Tuesday called for softening a proposed June ballot measure to trim city worker pensions while acknowledging they failed to reach a deal with employee unions to slow growing retirement costs, ensuring a tough election fight that could draw national interest.
Feds fret over underfunded corporate pensions
Federal officials have assumed responsibility for hundreds of troubled pension plans in recent years. Those takeovers could accelerate as baby boomers start to retire, with taxpayers potentially needing to pay tens of billions of dollars to keep the private plans alive.
Dems seek state-run pensions for private workers
Two leading California Democrats introduced legislation Thursday that attempts to provide retirement savings for private-sector workers of modest means, creating a government-run program for private-sector workers whose employers do not offer pensions or 401(k) plans.