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A.G. File No. 2011-063

Government Employee Pension Reform Act of 2012 (Amdt. #1S)

December 22, 2011


This measure would amend the State Constitution to impose new requirements and limitations concerning public employee pension benefits and the funding of such benefits by employers and employees. For future public employees, this measure would change the current system of defined benefit pensions substantially by prohibiting state and local governments from accumulating unfunded pension liabilities and requiring these governments to retain the exclusive authority to modify the terms of pension plans at any time. For current public employees, this measure would make various changes, including certain limits on public employer contributions to pension funds.