New State Retirement System

See City of Laguna Beach web site – “About 90,000 State employees – not public safety personnel – signed a new labor agreement which modifies the retirement benefit for new State personnel. Instead of having the retirement based on the single highest year – as Laguna Beach and most cities do – it will be based on the average of the highest three years. This will probably be a significant reduction in costs for the State. The State also gave a cost of living increase of 3.5%. The employees have not had a raise since 2003.”

The Laguna Beach City Council should do the same here in Laguna Beach. Over many years the City employee pension, health care, and workman’s Comp expenses have been growing out of control consuming tax revenue increases.