Some of you have probably heard that an accountant in SoCal is trying to take our pensions away from us. He has started a petition that, if passed by the voters, appears to be able to take our pensions away by giving the State the opportunity to renegotiate our retirement benefits and possibly reduce our pensions so that they can balance the State’s budget on our backs.
If that is not enough, he has another petition out that would tax our pensions into oblivion. That petition would tax the first $40,000 of the pension at the regular state tax rates, but everything above that would have an extra tax that would basically eliminate most of the pension above $40,000. He does not care that the pension was earned through years of service to the state, but looks at it as another way to cheat the people who work for the state out of their pension.
Read the info below so that you know what is going on and do your part to stop these petitions in their tracks. Make sure to tell all your friends not to sign them.
McCAULEY INITIATIVE TO TAX YOUR PENSION aka, Tax on Pension Distributions and Health Care Benefits. Initiative Statute.(09-0006)
McCAULEY INITIATIVE MEASURE TO RE-NEGOTIATE YOUR PENSION aka, McCauley Public-Employee Pension Reform Act (08-0018)