Chuck Reed

By putting a cap on the payments it ensures we won't be generating these huge unfunded liabilities that will then drive the cost( higher), employees would have to pay more if they want a bigger or more expensive pension, or they have to ask the voters to approve it.

That gives us the green light to start collecting signatures. However we are going to do some polling because we are not going to move ahead with two initiatives.

We’re filing this because pensions costs are going up dramatically, we’re giving voters the opportunity to weigh in on employee benefits that they have not had in the past.

Calpers has dedicated itself to preserving the status quo and making it difficult for anybody to reform pensions, this is one way to take on Calpers, and yes, Calpers will push back.