Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
5Activity
0 of .
Results for:
No results containing your search query
P. 1
REAL Coalition Letter on Pension Reform

REAL Coalition Letter on Pension Reform

Ratings: (0)|Views: 10,714 |Likes:
Published by jon_ortiz

More info:

Categories:Types, Business/Law
Published by: jon_ortiz on Aug 14, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

07/10/2013

pdf

text

original

 
 
August 13, 2012Senate President Pro Tempore Darrell SteinbergState Capitol Building, Room 205Sacramento, CA 95814Assembly Speaker John PerezState Capitol Building, Room 3160Sacramento, CA 95814Dear Senator Steinberg and Speaker Pérez:We, the undersigned members of the Regional Economic Association Leaders(R.E.A.L.) Coalition, have been greatly encouraged by your recent words of supportfor meaningful pension reform in California.Our statewide coalition
 – 
 
which is composed of 20 of California’s most influent
ialregional business associations, representing more than 11,000 employers that providemore than 3 million jobs
 – 
 
strongly supports Governor Brown’s 12
-point plan forreform as an important first step toward returning our pension obligations to a state of fiscal sustainability.Across our state, local officials are facing crippling budget shortfalls and are beingforced to decide between growing pension obligations and libraries, growing pensionobligations and parks, growing pension obligations and public safety. At the same
time, our public employees are relying for their retirement on money that simply isn’t
there. Systemic pension reform is the only remedy.
We do not believe the Governor’s plan
to be a panacea. The Department of Financeestimates the impact of the 12-point plan, if fully implemented, to be between $4billion and $11 billion over 30 years, while our major pension funds estimate theirliabilities at over $300 billion. Nevertheless, the Gover
nor’s proposal does represent
an important course correction
 – 
again, an important first step.
Voters in three of California’s
largest cities
 – 
San Jose, San Diego and San Francisco
 – 
 have already overwhelmingly approved reform measures that included many of thesame provisions that appear in
the Governor’s 12
-point plan. These were importantsteps that should not be preempted by state action, but more needs to be done. Ourpension problems cannot be fixed city by city, special district by special district in apatchwork manner. It is up to our elected leaders in Sacramento to enact statewidereform if we are to avoid continued devastating cuts to local services, more municipalbankruptcies, and a collapse of the retirement system on which our public employeesrely.We look forward to seeing the reforms currently being drafted in conference, and trustthat their impact on our long-term pension liabilities will be at least equal to the $4B-
$11B impact of the Governor’s proposal. We also appreciate your commitment that
2001 Gateway, Suite 101ESan Jose, CA 95110PH | 408.501.7864FAX | 408.501.7861www.realcoalition.org
 LUCY DUNN Co-Chair 
Orange County Business Council 
CARL GUARDINOCo-Chair 
Silicon Valley Leadership Group
RON ADDINGTON 
Business Council of San Joaquin County 
BILL ALLEN 
Los Angeles County Economic Development Corporation
RUBEN BARRALES
San Diego Chamber of Commerce
LINDA BEST 
Contra Costa Council 
 MARK CAFFERTY 
San Diego Regional Economic Development Corporation
KAREN ENGEL
East Bay Economic Development Alliance
STEVE FALK 
San Francisco Chamber of Commerce
RANDY GORDON 
Long Beach Area Chamber of Commerce
PAUL GRANILLO
Inland Empire Economic Partnership
BILLIE GREER 
Southern California Leadership Council 
JOE HARABURDA
Oakland Metropolitan Chamber of Commerce
CYNTHIA KURTZ 
San Gabriel Valley Economic Partnership
MATTHEW MAHOOD
San Jose Silicon Valley Chamber of Commerce
CYNTHIA MURRAY 
 North Bay Leadership Council 
ROGER NIELLO
 Sacramento Metro Chamber of Commerce
 AL SMITH 
Greater Fresno Area Chamber of Commerce
GARY TOEBBEN 
Los Angeles Area Chamber of Commerce
JIM WUNDERMAN 
Bay Area Council  
 
Page 2 of 3
 – 
R.E.A.L. Coalition Pension Reform Letter 
 – 
8/13/2012
Lucy DunnPresident & CEOOrange County Business Council
Ruben BarralesPresident & CEOSan Diego Regional Chamber of CommerceRandy GordonPresident & CEOLong Beach Area Chamber of Commerce
Linda BestPresident & CEOContra Costa CouncilCarl GuardinoPresident and CEOSilicon Valley Leadership Group
Cynthia KurtzPresident & CEOSan Gabriel Valley Economic PartnershipMatthew MahoodPresident & CEOSan Jose Silicon Valley Chamber of CommerceRoger NielloPresident & CEOSacramento Metro Chamber of Commerce
this proposal will be produced in a timely manner so that it can be appropriately vetted and deliberatedbefore being put to a vote.Thank you for your continued leadership and service.Sincerely,
Steve Falk President & CEOSan Francisco Chamber of CommercePaul GranilloPresident & CEOInland Empire Economic PartnershipJoseph J. HaraburdaPresident & CEOOakland Metropolitan Chamber of CommerceCynthia MurrayPresident & CEONorth Bay Leadership Council

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->