Fox News | Governor Moonbeam Taking on California PEUs?

Gov. Jerry  Brown’s newly unveiled plan for a sweeping overhaul of the state’s pension  system seeks rollbacks that are deeper than what the Democratic governor  proposed in the spring, and risks putting him at odds with the very unions that  helped power his return to the statehouse last year.

Brown outlined his long-term vision for turning  around California on Thursday with his plan to move new state workers to a  hybrid retirement system where guaranteed benefits are combined with a  401(k)-style plan. Civil state employees hired after the plan takes effect would  be eligible for full retirement benefits at 67, instead of 60. He also wants  current employees to contribute at least half of the cost of their pension  benefits.

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