NJ Gov. Chris Christie says you can't merge from defined benefit to 401 type defined contribution plan overnight. Takes time unless you reform the current system first. I agree. We did accomplish pension reform in Costa Mesa last year with employees now paying a portion of their retirement costs each month saving the City about $250,000 a month and more than $6.5 over several years.
News item: Tuesday night Mayor Pro Tem Righeimer and new Council Member Mensinger voted for the same employee agreement I voted for last fall. Amazingly, the sky did not fall. Perhaps they too realized that the agreements we made with our employees were decent and had been negotiated fairly. They certainly had an opportunity to vote against them. Perhaps they saw that voting for them was the right thing to do for the city and risking losses and lawsuits was not. My point exactly.