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SACRAMENTO, California (Reuters) - California's legislature easily passed a pension reform measure on Friday that cuts some of the most generous public employee retirement benefits in the United States, but even many supporters of the plan called it only a first step in fixing a pension deficit that has been decades in the making.The pension bill, unveiled by Governor Jerry Brown on Tuesday after months of talks with fellow Democrats, will raise the retirement age and reduce benefits for new employees. It will also boost employee contributions and eliminate some practices that have led to exorbitant pensions for a relatively small number of workers.
The pension bill garnered strong bipartisan support in both chambers, passing 48-8 in the Assembly and 38-1 in the Senate, although supporters from both sides of the aisle said more was needed.
"The nation that couldn’t be conquered by foreign enemies has been conquered by its elected officials" odawg Free Republic in reference to the GOP Elites who are no difference than the Democrats