The county Board of Supervisors voted 4 to 1 to place the Pension Reform Initiative on the ballot in a move that the 4 would likely describe as distasteful. Supervisor Long called the initiative “egregious” partially because of the fiscal…
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Ventura County Pension Reform Campaign Submits Overwhelming Number of Petitions
VENTURA, April 23, 2014 – Carrying and carting numerous boxes containing petitions signed by more than 40,500 voters into the Ventura County government center, the Committee for Pension Fairness today completed its most substantial action to date to place a comprehensive reform measure on the November ballot.
“This is truly a historic day and a remarkable achievement for our grassroots, volunteer-driven campaign”, said David Grau and Dick Thomson, Co-Chairs of the Initiative for Pension Fairness and Sustainability. “This isn’t our battle alone – it’s the people of Ventura’s. In overwhelming numbers, they have made it clear they want a decisive say in their fiscal future.”
In less than 70 days, the pension group gained the signatures of more than 50 percent above the required number to qualify for the ballot. This is very uncommon in the initiative and signature-gathering industry and indicates a strong climate for reform, reformers said. “The people know that Ventura County’s current pension system is unsustainable and is draining precious resources that could be spent on meeting unmet public and civic needs,” said Ventura County’s Fourth District Supervisor Peter Foy. “With this, the people have the opportunity to take charge – as it should be. They have made it clear they want their voices to be heard.”
A recent comprehensive independent analysis of the proposed pension reform initiative in Ventura County has found that the measure would achieve immediate fiscal benefit and long-term benefits: The county would not only reduce liabilities $1.8 billion in the long-term, but also save $460 million on cash-flow, shoring up pension obligations it has for current employees and retirees.
“For decades, the unions and the politicians have had the only seats at the table – it’s time for the people to weigh in and achieve the kind of reforms that this flawed system simply isn’t capable of delivering,” added Grau and Thomson. “We can’t wait any longer. Soon, we won’t have to.”
CONTACT: Jonathan Wilcox 888-708-8829 email@example.com
Independent Analysis: Pension Reform Saves $460 Million and Reduces Long Term Liability $1.8 Billion
by Editor •
A comprehensive independent analysis of the proposed pension reform initiative in Ventura County has found that the measure would achieve immediate fiscal benefit and long-term benefits. The dynamic effects of the proposed initiative mean that the County would not only…