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Brown, Democrats fail to reach pension reform deal

3:45 PM, Jul 3, 2012   |    comments
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SACRAMENTO, CA (AP) - Gov. Jerry Brown says he wants to keep talking with Democratic leaders about overhauling the state's pension system during a monthlong recess that begins at the end of the week.

The governor says he couldn't reach a deal with lawmakers on his comprehensive proposal that included raising the retirement age and moving workers to a hybrid pension-401(k) system.

Assembly Speaker John Perez said Democrats would keep working on passing a proposal before the legislative session wraps up at the end of August.

Brown's announcement Tuesday suggests the majority party still has work to do to satisfy his demands for a comprehensive package to help contain rising pension costs. Critics say the costs are unsustainable and are starting to compete with public education and other programs for limited state and local funds.

The Associated Press

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