Los Angeles Mayor Antonio Villaraigosa is hoping to implement new pension reforms through a city ordinance. If that fails, he says he is prepared to put the question before voters.
While voters in San Jose and San Diego signed off on pension reforms at the ballot box, the city of Los Angeles is hoping to revamp pension benefits for future employees by going through the legislative process.
Mayor Antonio Villaraigosa announced pension reforms two months ago when he introduced the budget for fiscal year 2012-13. Under the mayor’s plan the retirement age for new civilian employees would increase to 67. Right now, employees can retire with full benefits at 55. Benefits would be capped at 75 percent of an employee’s final compensation, and cost of living adjustments would be reduced.
The city administrative officer has been instructed to report back to the Executive Employee Relations Committee. From there, the pension plan would go to the Los Angeles City Council for approval.