US - Los Angeles Mayor Antonio Villaraigosa has unveiled proposals that will have newly hired police and firefighters working longer for better pensions and paying for post-retirement health care for the first time.
Villaraigosa said the pension changes will save the city $173m for every 1,000 new hires. Under the new plan, employees can continue to retire after 20 years of service, but will receive only 40...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
