Statement from LABC President Mary Leslie on Gov. Brown’s Signing of California Pension Reform Bill

September 12, 2012

Los Angeles Business Council President Mary Leslie issued the following statement today after Gov. Brown’s signing of California’s pension reform bill:

“The Los Angeles Business Council commends Governor Brown for his vision and leadership in bringing about common-sense pension reform for California. The historic legislation signedtoday implements overdue reforms that will save taxpayers billions of dollars while ensuring that our public retirement system is sustainable for future generations. Among its many achievements, the new law allows Los Angeles and other municipalities to begin the process of pension reform at the local level – a critical step our cities need to regain financial balance and adequately invest in public services.

“California’s business community requires a sound public pension system that is fair to public employees, but does not jeopardize our state’s long-term economic health. This important step toward controlling our pension costs sends a positive message to businesses throughout the nation that our state is capable of bold action to secure a more responsible future.”