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Report: Villaraigosa wants to cut retirement benefits for new employees

"No Labels" Political Organization Launches As Counterpoint To Tea Party

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File: Los Angeles Mayor Antonio Villaraigosa speaks at the launch of the unaffiliated political organization known as No Labels December 13, 2010 at Columbia University in New York City.

The L.A. Times has snagged a copy of at least some of Mayor Antonio Villaraigosa's proposed annual budget, which he is releasing Friday afternoon, and is reporting the mayor plans to propose a cut back on the retirement benefits offered to new city employees. The mayor is also expected to ask to raise the age of retirement to 67. On Thursday, the mayor said on KPCC that he plans to ask for hundreds of employee layoffs, as well. More on this later today from Frank Stoltze.

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