SACRAMENTO – Governor Edmund G. Brown Jr. today issued the following statement after the California Public Employees’ Retirement System (CalPERS) Board voted 7-4 to immediately begin phasing in the increased costs of state employees living longer:
“The Board today took important and responsible action to strengthen California’s pension system.”
Today’s vote follows the Governor’s call for CalPERS to begin accounting for demographic changes for state employees immediately – rather than waiting another two years as CalPERS staff recommended – with the increased costs fully phased in within three years.
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