LA Pension Reform

LA Pension Reform Support the Bankruptcy Avoidance & Pension Protection Act of 2013 The City of Los Angeles faces a financial emergency, heading towards bankruptcy.

On its current path, the City will not have the ability to honor its pension obligations, nor will it be able to offer essential city services, such as open parks, fixing streets and pot-holes, sidewalk repair, trash collection, and even face cuts in public safety like police, fire and paramedics. It’s simple math. In 2002, the City of Los Angeles contributed $220 Million to its three pension fund

s to pay for pensions and other retirement benefits. By 2011, the City’s contribution had skyrocketed to over $1.2 Billion. The nonpartisan City Administrative Officer forecasts that the City’s contributions will continue to grow dramatically over the next decade. Some estimates predict the City’s pension fund contributions will exceed $2 Billion by 2017. At this rate, 100% of the city general fund will go to pay for Pensions, Police and Fire only! We need this comprehensive reform that will allow the City to avoid bankruptcy, keep its pension promises to workers and create a foundation for a better Los Angeles.

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13351 Riverside Dr, # 653
Los Angeles, CA
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