Voice of OC (https://voiceofoc.org/tag/pension-reform/)
State Sen. John Moorlach writes that amidst all the talk of tax reform in D.C., in order to really help local communities, Congress needs to focus on revoking outdated IRS codes that prevent public employees from opting into blended benefit pension/401K-style plans – an idea born in Orange County in 2013 out of negotiations between the County Board of Supervisors and the Orange County Employees Association.
They have been frustrated by lack of progress on a bill that would allow public employees across the country to opt into a lower pension benefit.
Expect to hear more about how well the county is servicing its
customers with Supervisor Bill Campbell as chairman.
Supervisor Shawn Nelson talks his colleagues into forming a
committee to study the idea of elected officials trading
defined-benefit pensions for 401(k)-style retirement plans.
Local officials get kudos on their efforts toward pension reform from a statewide commission. Yet amid all the kind words, some harsh realities remain.
Tired of waiting for the IRS to rule, the county is turning to Capitol Hill for help on changing pension law so employees can choose from different retirement plans.