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City Council Places Retirement Reforms on June 2012 Ballot
UPDATED: 12/6/2011
On December 6, the City Council voted to place a Retirement Reform Ballot Measure before the voters during the June 2012 presidential primary election. The Council also directed its negotiating team to immediately invite all of its employee unions to continue participating in mediation, which leaves open the possibility of modifying the final ballot measure language if an agreement can be reached before March.
Read the Mayor's memo outlining the approved recommendations and the current ballot measure language. You can also view this Fact Sheet on the proposed reforms.
Over the past six months, the proposed retirement reforms have been modified several times as a result of negotiations with the City's employee unions. Most recently, the ballot measure was revised such that retiree COLAs would only be suspended if the City Council decides to declare a fiscal emergency.
In light of the fact that the Police and Fire Retirement Board's independent actuary - Cheiron - is now projecting that next year's retirement costs will be significantly lower than they previously estimated, the Council deferred a decision on officially declaring a fiscal emergency until Cheiron is able to provide additional information on their new projections. Learn more 
- Learn more about Retirement Reform and read about San Jose's Pension Problems.
Other Recent Budget News
Police Officers Union Agrees to Extend 10% Pay Cut Through Next Year - POSTED: 1/17/2012
On January 10, the City Council approved an agreement with the San Jose Police Officers Association (POA) that extends a 10% pay cut for police officers through the next fiscal year. Five other unions (IAFF Local 230, AEA, AMSP, CAMP and ABMEI) previously agreed to two-year contracts that also keep the 10% pay cut in place through FY 2012-13.
"A 10% pay cut is a significant sacrifice and I'd like to thank our police officers for extending this concession for another year," Mayor Reed said. "This agreement will go a long way toward helping us minimize service cuts and layoffs in next year's budget.
Statement on SIEPR Report - POSTED: 12/14/2011
Mayor Reed has released the following statement regarding a report by the Stanford Institute for Economic Policy Research (SIEPR) analyzing the City of San José’s public pension costs and the need for reform. Read more 
Statement from Mayor Reed on the Retirement Reform Proposal Made by Five Employee Unions - UPDATED: 10/11/2011
Mayor Reed has released the following statement in response to a retirement reform proposal made by five of the City's employee bargaining units. Read the statement Read an information memo from the City's negotiating team 
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