California Pension Reform's Mike Genest has issued this statement about the LAO's review of Gov. Jerry Brown's pension proposals:
It is disappointing that the LAO omits the most critical flaw of the Governor's proposal: By his own admission his plan only solves $4-$11 billion of what is at least a $240 billion unfunded liability. While the Governor's plan has merits, it solves less than 5% of our problem. We need bold, comprehensive reform now and cannot continue to wait as politicians debate the issue and tinker around the edges.
California Pension Reform recently filed two ballot proposals with the attorney general's office for official title and summary. It hopes to start gathering signatures in January in hopes of qualifying one of the two measures for the November 2012 ballot.