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Schwarzenegger vetoes pension reform bills




A sign stands in front of California Public Employees' Retirement System building  in Sacramento, California.
A sign stands in front of California Public Employees' Retirement System building in Sacramento, California.
Max Whittaker/Getty Images

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Amid a flurry of bills crossing Governor Arnold Schwarzenegger’s desk yesterday, at least 5 dealt with public pensions. The Governor vetoed bills designed to prevent automatic pay raises and cap pensions in public employment contracts in the wake of the Bell scandal. He also vetoed two bills that aimed to prevent pension spiking. Among the bills Schwarzenegger did sign, a pension fund transparency measure that requires deal makers to register as lobbyists if they want to propose investments to CalPERS. Do you agree with the Governor’s vetoes? What changes must be made to ensure that state employee pensions are not abused—by managers or by public officials themselves?

Guests:

Patrick McGreevy, Staff Writer, LA Times

Joe Simitian, State Senator representing California’s 11 district (which includes parts of San Mateo, Santa Clara, and Santa Cruz counties)