Mayor Reed's presentation at Hoover's 'California Public Pension Solutions Conference.'

Mayor Chuck Reed of San Jose addressed the conference participants and invited Hoover guests on turning pension solutions into action. Reed has been at the forefront of pension solutions during his mayoral tenure in San Jose, successfully passing a comprehensive pension reform, Measure B, in 2012 with almost 70 percent of the vote. Measure B will protect the long-term health of San Jose's retirement plans and generate the savings necessary to restore core city services. Recently Reed embarked on a statewide endeavor to bolster California cities' ability to enact pension solutions.

[bsdguy]

Looks like California is on the same road as Detroit.

[ehong]

The basic problem is with allowing unionization of the public employees, which started from the JFK years. That allows unions in contributing big union money to elect officials who gives them the oversize benefits. A very corrupting system. The first thing is to reform union system to allow public employees to opt out union fees without the large penalty that it can incur to those who opt out the union fees. Scott Walker's reform at Wisconsin is a good model.

[miltonfriedman]

I feel bad for him, he is learning the hard way, he was wrong about everything before now.