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Home  Random Extras NCs propose solutions for LA budget
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NCs propose solutions for LA budget |
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Written by Zamna Avila
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Thursday, 28 January 2010 |
Several neighborhood council representatives presented recommendations to the Los Angeles City Council Budget and Finance Committee, Monday, Jan. 25, at the Van Nuys City Hall.
Monday’s meeting is part four budget meetings to be conducted within the next two months by the LA City Council’s Budget and Finance Committee.
West Los Angeles Neighborhood Council chairman drafted the initial proposals, seeking to work in partnership with city officials to pursue revenue innovations and pension reform that, hopefully, will maintain city services and make organizational improvements.
Some of the proposals included in the neighborhood councils’ proposals include:
1) Increasing employees’ pension contributions to reflect market rates.
2) Raise the retirement age to the Social Security eligibility age.
3) Re-evaluate post-retirement health benefits.
4) Service credit purchases based on actuarial value.
5) Add one neighborhood council member to all of the pension boards.
6) Consolidate the three agencies administering Los Angeles pension funds.
7) Consider defined contribution and annuity based pension plans.
8) Hire an independent lawyer proficient in Chapter 9 filings.
9) Review payroll reduction amounts against layoffs.
10) Consolidate duplicate service departments.
11) Lower the annual service credit for each year worked and cap total pension benefits.
12) Define benefits against contributions.
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