San Jose Mayor Chuck Reed made it official today – sort of. Speaking to a pension “restructuring” conference at Stanford University’s Hoover Institution, Reed said he hoped to file papers “in a few days” to put a ballot measure before voters that would allow cities in California to gut the retirement plans of their public employees. But he acknowledged that he and a group of fellow activists weren’t sure whether to put the measure on the ballot for November 2014 or sometime in 2016. (If the pension group wants to beat an approaching deadline and keep 2014 open as an option, it has to file papers soon.)
The lack of urgency contrasted with Reed’s half-hour talk, during which he painted a picture of a California teetering on the brink of pension-fund disaster, in which public safety employees would be laid off, libraries closed and retirement benefits decimated.
“Time is of the essence,” Reed warned – claiming that the longer his proposed amendment to the state constitution is postponed,