Take Two for October 29, 2013

Pension reform: Long Beach claims leadership in reducing risk

Long Beach Mayor Bob Foster

Sharon McNary/KPCC

Long Beach Mayor Bob Foster says changes in union contracts and improved investments have reduced the city's unfunded pension liability.

Many California cities have promised workers far more in pensions than they can deliver.

Attempts in San Jose, San Diego and elsewhere to reduce public employee retirement packages have ended up in court. So when Long Beach announced it would soon become the largest California city to get its employees to accept pension reform,

KPCC political reporter Sharon McNary has the story. 

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