California

Gov. Brown to Share Details of Pension Deal

Deal brokered by Democrats and union leaders to cut the state's public employee pension costs.

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Gov. Jerry Brown will fly to Los Angeles on Tuesday to spell out the terms of a deal brokered by Democrats and union leaders to cut the state's public employee pension costs.

The governor backed away from the centerpiece of his 12-point pension proposal, which had called for a hybrid plan that incorporates a 401(k)-style system, according to Assemblyman Warren Furutani (D-Gardena), chairman of the joint legislative committee dealing with the pension issue.

Instead, the agreement will limit the annual salary that a public employee's pension can be based on at $110,000.