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Measure F: San Jose Pension Agreement
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Elections June 2016
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Argument Against Measure F
Let’s call this ballot measure what it is:
Full REPEAL of Pension Reform and a Massive INCREASE in Public Pensions
This measure had no public input in its drafting. Union bosses and city leaders negotiated in secret, not revealing the ballot language until mere hours before the council vote.
Why the secret? Maybe this is why:
For many employees:
- Pension benefits are increased by a whopping 23%
- Cost of living increases for retirees will rise by 33%
- The city’s contribution rates will skyrocket by 36%
The city will have to contribute $368,000,000 more just to make the minimum payment for these increases.
To make matters even worse, over 1,100 employees will receive RETROACTIVE pension increases that will cost millions – and we don’t even know how much, because city leaders didn’t bother to calculate the cost – even though state law requires it.
Now our city bureaucrats, police chiefs and fire chiefs will receive pensions that are far greater than those provided to neighboring cities who participate in the CalPERS PEPRA retirement - the standard for new hires in most public agencies. Some future San Jose retirees will make over $75,000 a year more than retirees from other cities in our region and across the state.
70% of San Jose voters approved Measure B because the pension system was broken.
Since then, the old pension system has only gotten worse, pension contributions for some employees exceed 92% of payroll – while the new benefit you approved in 2012 has seen its contribution rates fall to less than 22% of payroll.
We agree there are some aspects of Measure B’s reforms that may need fixing, but you can do that without giving away the farm and removing taxpayer protections.
Just Say NO to Higher Pensions!