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Here is the official title and summary of the Reed/DeMaio Initiative
The Attorney General of California has prepared the following title and summary of the chief purpose and points of the proposed measure

PUBLIC EMPLOYEES. PENSION AND RETIREE HEALTHCARE BENEFITS. INITIATIVE CONSTITUTIONAL AMENDMENT.

Eliminates constitutional protections for vested pension and retiree healthcare benefits for current public employees, including those working in K-12 schools, higher education, hospitals, and police protection, for future work performed. Adds initiative/referendum powers to Constitution, for determining public employee compensation and retirement benefits. Bars government employers from enrolling new employees in defined benefit plans, paying more than one-half cost of new employees’ retirement benefits, or enhancing retirement benefits, unless first approved by voters. Limits placement of financial conditions upon government employers closing defined benefit plans to new employees. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Significant effects—savings and costs—on state and local governments relating to compensation for governmental employees. The magnitude and timing of these effects would depend heavily on future decisions made by voters, governmental employers, and the courts. 

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Pension attack takes next step
Attorney General releases official summary; signature gathering underway

The deadly 2016 pension-gutting ballot initiative designed to bypass collective bargaining and threaten the retirement security of all public employees has passed another milestone, receiving a official title and summary from California Attorney General Kamala Harris.

Titled the “Public Employees. Pension and Retiree Healthcare Benefits. Initiative Constitutional Amendment.” the ballot measure “eliminates constitutional protections for vested pension and retiree healthcare benefits for current public employees.”

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